OCBC Bank extends RM700m financing to Ideal Property Group
Spanning across 880 acres (356.12 hectares) of freehold land, the RM4.2 billion industrial property development recently began construction.
Landmarks' auditor flags group's ability to operate as going concern
Landmarks Bhd said its external auditor has raised concerns about the group's ability to operate as a going concern in its audited financial statements for the year ended Dec 31, 2022 (FY2022).
Tropicana to issue new shares to founder-cum-vice-chairman to settle RM180m debt
Tropicana Corp Bhd is issuing 137.68 million new shares to pay off RM180 million that the company owes its founder and group executive vice-chairman Tan Sri Tan Chee Sing. The shares will be issued to a company wholly-owned by Tan at RM1.30 per share.
PRG’s deal with HK-listed Furniweb set to improve financial liquidity, performance
PRG Holdings Bhd said its recent corporate exercise with Hong Kong-listed Furniweb Holdings Ltd will improve its financial liquidity and performance.
Parkson's Vietnam unit to file for bankruptcy, only remaining store to close
The Parkson group is to exit the Vietnam market after operating there for 18 years as it is not commercially feasible to continue its operations in the country, said Singapore-listed Parkson Retail Asia Ltd (PRA), a 67.96%-owned subsidiary of Parkson Holdings Bhd.
Resilient demand for Sunway's and IOI Properties' projects in Singapore despite property cooling measures, says HLIB
Hong Leong Investment Bank (HLIB) Research said property developers with projects in Singapore could experience resilient local demand despite the new rate for the republic's Additional Buyers’ Stamp Duty (ABSD).
IGB REIT’s 1Q property income up 10% as rental earnings climb; pays 2.80 sen DPU
IGB Real Estate Investment Trust (IGB REIT), which operates the Mid Valley Megamall and The Gardens Mall here, posted a net property income of RM118.56 million for the first quarter ended March 31, 2023 (1QFY2023), up 10% from RM107.71 million in the same quarter a year ago, as the REIT recorded higher rental income.
CapitaLand Malaysia’s 1Q NPI up 9% on better revenue contribution; declares 0.87 sen DPU
CapitaLand Malaysia Trust’s (CLMT) net property income (NPI) increased by 8.8% to RM39.2 million for the first quarter ended March 31, 2023 (1QFY2023) from RM36.1 million a year ago, driven by higher revenue contribution from most of its properties, supported by a sustained recovery in retail sentiment, as well as contributions from Valdor Logistics Hub and the newly acquired Queensbay Mall.
After regaining firm footing in FY2022, Sunway REIT eyes more positive upside from post-Covid reopening
Sunway Real Estate Investment Trust (Sunway REIT) is cautiously optimistic on its outlook for the financial year ending Dec 31, 2023 (FY2023), underpinned by the continued growth momentum in its retail and hotel segments on the back of the full reopening of all economic sectors and international borders.
Guocoland to dispose of land in Melaka for RM19 mil
Guocoland (Malaysia) Bhd has proposed to dispose of a parcel of land in Jasin, Melaka for RM19.02 million and use the proceeds for its general working capital.
