News by THEEDGEMARKETS.COM

Hong Leong IB (HLIB) Research has downgraded Sentral REIT to “hold” at RM1.01 with a lower target price (TP) of 91 sen (from 99 sen) and said Sentral REIT recorded 2QFY22 core net profit of RM18.5 million (-9.4% q-o-q; -2.3% y-o-y) and 1HFY22 core net profit of RM38.8 million (-2% y-o-y).

Kerjaya Prospek Group Bhd's net profit grew 78% year-on-year (y-o-y) to RM28.54 million for the second quarter ended June 30, 2022 (2QFY22), from RM16 million previously, as revenue strengthened amid improved progress of construction work activities.

UEM Sunrise Bhd is to dispose of its 80.4% stake in South Africa-based Roc Union-Proprietary Ltd for 142.6 million rand (RM38 million).

Sentral Real Estate Investment Trust's (REIT) net property income for the second quarter ended June 30, 2022 (2QFY22) slipped 3.8% to RM27.94 million, from RM29.04 million a year earlier, on lower revenue.

KIP Real Estate Investment Trust (REIT) has appointed its co-founder and executive director Datuk Eric Ong Kook Liong as managing director, a position that had remained vacant since Datuk Chew Lak Seong’s death in June last year.

The data centre market in Malaysia, which was a rising trend last year, is expected to witness steady growth in the upcoming years, according to real estate service firm JLL in a webinar titled "Data Centre as the New Real Estate Deal" held on Thursday (Aug 18).

The suit filed by 37 unit owners of K-Residence against developer KL Landmark Sdn Bhd and three others including Duta Land Bhd CEO Tan Sri Yap Yong Seong, will proceed through trial for six days beginning Oct 13.

The land has been approved for the development of one 27-storey block of studio apartments and serviced apartments.

Batu Kawan Bhd's net profit declined 21.26% year-on-year (y-o-y) to RM304.3 million for the third quarter ended June 30, 2022 (3QFY22) from RM386.465 million in the previous corresponding quarter of 3QFY21, despite higher revenue, because the previous year had accounted for non-operational gains.

MIDF Research has maintained its “positive” rating of the construction sector, with encouraging developments seen in Sarawak.