News by THEEDGEMARKETS.COM

The project, which the group said is its largest ever, will entail the construction of the affordable homes on 36.6 acres of land across four sites in Shah Alam, Selangor, namely one site located in Seksyen U8 and the remaining three sites in Seksyen U17.

And with no new fatalities reported, the death toll remained at 121 — unchanged for the 24th day in a row — representing 1.39% of total infections.

In a note today, Affin Hwang analysts Azhani Hashim and Isaac Chow said they expect the OPR cut to have a minimal impact on earnings of MREITs this year as most of the REITs under coverage, such as Axis REIT, IGB REIT, KLCCP Stapled Group and YTL REIT, had pegged a majority of their borrowings at fixed rates.

“Elsewhere, PREITs and SREITs have fixed rates for 43% of their borrowings,” they added.

Most of the local economists contacted are of the view that BNM is unlikely to trim OPR for the rest of the year. It will only do so if the Covid-19 outbreak worsens.

The 1.75% OPR is the lowest since the floor was set 16 years ago. Yesterday, BNM made its fourth rate cut this year, with a cumulative 125bps slashed so far.

"The decision to reduce the OPR is aimed at accelerating the rate of recovery and further stimulating the country's economy," said Finance Minister Tengku Datuk Seri Zafrul Aziz.

It is the sixth consecutive day that the number of active cases remained under 100.

Sri Ram said this in an affidavit in reply to Tan Sri Mohamed Apandi Ali’s affidavit, in which the former attorney-general claimed that the senior DPP, as the lead prosecutor in Datuk Seri Najib Razak's 1Malaysia Development Bhd (1MDB) cases, had a "clear mission of bias" against the former premier.

In a statement today, the central bank said Malaysia’s inflationary pressures are expected to be muted in 2020.

Paramount group chief executive officer (CEO) Jeffrey Chew said its subsidiary Paramount Property (Utara) Sdn Bhd had entered into a sales and purchase agreement with BDB Land Sdn Bhd, a subsidiary of Bina Darulaman Bhd, yesterday to buy two parcels of land (62.6 and 74.5 acres respectively) for a total consideration of RM24 million.