News by THEEDGEMARKETS.COM

Penang-based property developer Ivory Properties Group Bhd has appointed Messrs UHY as the company’s new auditor following the resignation of Messrs KPMG PLT.

Rahim & Co International Sdn Bhd states that as a continuation of 2022 having had more progress, residential and industrial property sub-sectors have shown signs of positive growth while others are poised to follow suit but at a slower pace. This was revealed at the launch of Rahim & Co’s Property Market Review 2022/2023 report on Thursday (Feb 9).

The MOU aims to escalate efforts in pooling together ideas, resources and ecosystem partners to do more in making the city liveable, sustainable and prosperous, together.

Maybank Investment Banking Group (Maybank IBG) viewed UEM Sunrise Bhd's unsuccessful acquisition of a freehold parcel of land along Jalan Semarak in the Kuala Lumpur city centre as a positive, as the deal would have led to its involvement in the highly competitive and over-supplied retail, office and hotel segments of the property market.

Ingenieur Gudang Bhd is buying a firm that has acquired the interest in 164 units of retail lots in a commercial complex in Pandan Perdana.

Hektar Real Estate Investment Trust (Hektar REIT) said it carried out a revaluation on six of its investment properties, resulting in a net fair value gain of RM41.6 million.

Crescendo Corp Bhd (CCB) is buying three plots of land measuring 109.855 acres in Kota Tinggi, Johor, to expand its landbank.

Retailers and hoteliers are urging the government to provide commercial users a moratorium till end-2023 on the newly implemented electricity surcharge — which has been upped to 20 sen per kWh since the start of this year from 3.7 sen per kWh throughout 2022 — so that their businesses can first recover from the pandemic's impact.

Malaysia’s overall residential overhang situation has improved in the third quarter of 2022 (3Q2022) to 29,534 units, from 34,092 units in the previous quarter, according National Property Information Centre (Napic) director Aina Edayu Ahmad.

UEM Sunrise Bhd’s plan to buy a freehold land situated near the Kuala Lumpur Convention Centre (KLCC) has fallen through after conditions precedent under the sale and purchase agreement (SPA) were not fulfilled within the conditional period, which expired on Tuesday (Feb 7).