News by M

Paragon Globe Bhd (KL:PGLOBE) is selling part of a parcel of freehold land it had just acquired in the district of Plentong, Johor Bahru, for RM238.32 million to improve its liquidity and financial position.

All eyes will be on Bank Negara Malaysia (BNM) as the central bank is set to announce its overnight policy rate (OPR) decision later on Thursday afternoon.

UOB KayHian has initiated coverage on Lagenda Properties Bhd (KL: LAGENDA) with a “buy” rating at RM1.49 and target price (TP) of RM2.05.

Noteworthy:

• Freehold
• Built-up size: 4,385 sq ft
• Unfurnished
• 5 bedrooms, 6 bathrooms
• Nearby amenities: Bangsar Shopping Centre, DC Mall, Pavilion Damansara Heights, Bangsar Village I & II, MRT Pusat Bandar Damansara, Bukit Bandaraya Public Park, Help University
• Accessibility: Sprint-Damansara and Kerinchi Link, LDP, Jalan Maarof, Jalan Johar, Jalan Damanlela, Jalan Tuanku Abdul Halim

When: February 2024

Sentral Real Estate Investment Trust (KL:SENTRAL), or Sentral REIT, posted a 30.29% increase in its net property income in the first quarter ended March 31, 2024 (1QFY2024) to RM38.15 million from RM29.28 million a year ago, on higher contribution from four of its key properties.

IJM Land Bhd has achieved 55% take-up rate for serviced apartment Daffodil Residency since its launch on March 1, according to a press statement on May 7.

GCH Retail (M) Sdn Bhd, the operator of Giant hypermarkets, said the courts are still deciding on the company’s tenancy dispute with its landlord over premises it is currently occupying in Batu Caves.

Noteworthy:

• Leasehold
• Built-up size: 3,484 sq ft
• Land size: 1,776 sq ft
• Unfurnished
• 2 bathrooms
• Nearby amenities: Alam Damai Recreational Park, Bukit Besi Peak, UCSI University, National Defense University of Malaysia, MRT Taman Connaught, The Mines Resort & Golf Club, Selangor Turf Club, Australian International School Malaysia
• Accessibility: SUKE, MRR2, CKE, SALAK, Jalan Alam Damai, Jalan Cheras

When: March 2024

Presently, the funds under AHB are managed by Maybank AB while its sponsor is PHB and its trustee is AmanahRaya Trustees Bhd.

“The decision to actively participate in the KIGIP development is an important milestone for us as we venture into the natural adjacency of plantation companies.”