News by TheEdgeMarkets.com

IJM Corp Bhd marks its first foray into the industrial and logistics market by partnering with China Harbour Engineering Company Ltd (CHEC) to develop a mixed development and logistics hub in Kuantan.

Majuperak Holdings Bhd, a 51.41%-owned subsidiary of Perak State Development Corp, has struck a deal to acquire a substantial stake in two property management companies as part of a plan to regularise its financial condition and turnaround the group.

Chin Hin Group Bhd, which was slapped with an unusual market activity (UMA) query on Tuesday (Aug 2), responded to Bursa Securities' query that it is unaware of any corporate development relating to the group's business and affairs apart from the proposed sale of a 19.34% stake in Solarvest Holdings Bhd, as well as the one-for-one bonus issue of Chin Hin shares.

The total cost of the Mass Rapid Transit Line 3 (MRT3) project is estimated to be as much as RM50.2 billion.

Chin Hin Group Bhd was slapped with an unusual market activity (UMA) query by Bursa Malaysia on Tuesday (Aug 2) due to a sharp rise in its share price.

Entomo Malaysia Sdn Bhd and Raveenderen Ramamoothie are to purchase all Hasrat Budi Sdn Bhd’s shares in MYSJ Sdn Bhd — the operator of the MySejahtera application — for RM24 million plus a premium.

KIP Real Estate Investment Trust (KIP REIT)’s net property income (NPI) for the fourth quarter ended June 30, 2022 (4QFY22) dropped 5.8% to RM14.2 million, down from RM15.08 million a year ago, due to higher utilities expenses and lower gross revenue.

Pavilion Real Estate Investment Trust (REIT) net property income (NPI) for the second quarter ended June 30, 2022 (2QFY22) jumped 74.5% to RM83.11 million, up from RM47.62 million a year ago, as revenue was higher while operating expenses declined after economic reopen.

Gamuda Land signed a memorandum of understanding (MOU) with Universiti Malaya (UM) and Universiti Kebangsaan Malaysia (UKM), and a memorandum of collaboration (MOC) with Universiti Kuala Lumpur (UniKL), at Gamuda Cove on Wednesday (July 27).

The recovery momentum for IGB Real Estate Investment Trust (REIT) is expected to continue, despite several headwinds such as the overnight policy rate (OPR) hike as well as inflationary pressure, according to analysts.