News by M

Former Gabungan AQRS Bhd executive director and deputy chairman Alvin Ng Chun Kooi has ceased to be a substantial shareholder in the company, after disposing of 5.66 million shares or a 1.4% stake.

This is an excerpt of Part 2 of the Q&A with speakers following TheEdgeProperty.com Symposium on Property Management 2017 on April 8. Part 2 features only questions directed at Chris Tan, managing partner of Chur Associates who received the most number of questions.

The full Part 2 of the Q&A is available online at TheEdgeProperty.com. Please note that the replies reflect the personal views of the speaker and do not constitute legal advice.

RHB has downgraded its call on CapitaLand Commercial Trust (CCT) from “buy” to “take profit”, recommending investors to lock in profits and re-enter at lower levels now that the units of the trust are currently hovering close to the research house’s target price of S$1.68, which remains unchanged.

“The only way for the [property] market to move to the next level, is for the Malay market to be fully activated. The Malay market has not been made fully aware about property investment, even now."

Malaysia's Public Sector Home Financing Board had today issued up to RM3.25 billion worth of Islamic bonds or sukuk to finance the provision of housing loans to the public sector employees.

Hua Yang Bhd rose 2.83% this morning after company said it is planning to up its stake in Magna Prima Bhd by 20.12% or 66.89 million shares, for RM123.75 million or RM1.85 per share, to 30.96%.

IWCity said IWH has agreed to extend the original due date for one more month from April 19 to May 5 for its board to revert with its decision on whether the board is agreeable to put forward the proposed merger to the shareholders.

The safeguard duty has resulted in a significant increase in raw material costs.

GuocoLand (Malaysia) Bhd saw a 38% decline in net profit for its third financial quarter ended March 31, 2017 (3QFY17) to RM8.34 million from RM13.35 million a year ago, which it attributed to a high base effect after it sold a piece of land on Jalan Kia Peng last year.

Analysts are holding their earnings forecast for S P Setia Bhd after it won the tender for a plot of prime land in Singapore, amid concern over the group’s valuation due to the high cost of the land.