News by Justin Lim

Quarterly earnings per share declined to 4.7 sen from 5.63 sen previously. 

Pesona Metro Bhd has bagged a construction contract worth RM242.2 million for the main building works of a mixed development project in Kuala Lumpur.

Kimlun Corp Bhd has bagged two construction contracts worth RM94.5 million pertaining to main building works for 78 units of shop offices and a shopping mall with facilities in Johor Bahru.

Yong Tai Bhd saw the emergence of its new largest shareholder after Domain Capital Sdn Bhd acquired 90 million shares representing a 23.8% stake in the property developer.

Sunway Real Estate Investment Trust (Sunway REIT) is cautiously optimistic on its outlook for the financial year ending Dec 31, 2023 (FY2023), underpinned by the continued growth momentum in its retail and hotel segments on the back of the full reopening of all economic sectors and international borders.

Guocoland (Malaysia) Bhd has proposed to dispose of a parcel of land in Jasin, Melaka for RM19.02 million and use the proceeds for its general working capital.

Sunway Real Estate Investment Trust (Sunway REIT) is on the lookout for properties outside Malaysia as it seeks to grow its asset value.

Earthworks and civil engineering service provider Advancecon Holdings Bhd has bagged an RM86 million construction contract from Perbadanan Kemajuan Negeri Selangor (PKNS) for Phase 1 of its Sierra Alam development in Section U10, Shah Alam, Selangor.

Axis Real Estate Investment Trust’s (Axis REIT) posted a marginal increase of 0.92% in its net property income (NPI) to RM58.93 million for the first quarter ended March 31, 2023 (1QFY2023), from RM58.39 million a year earlier, due mainly to rental from newly acquired properties and positive rental reversion in 2022.

At the close of acceptance on April 11, the valid acceptances and excess applications totalled 1.29 billion rights shares, which is 93.37% of the 1.38 billion rights shares made available for subscription.