News by Wong Ee Lin

“Looking ahead, the underlying fundamentals surrounding the operating landscape remains challenging on the back of global whirlwind, moderation in domestic economy and fluidity in Government policies amidst the New Government reform.”

Syed Ali will be replacing Datuk Pee Kang Seng @ Lim Kang Seng, who has resigned yesterday due to other work commitments and responsibilities, separate filings with the local stock exchange yesterday revealed.

In a filing with Bursa Malaysia yesterday, SUNREIT — the assets of which include shopping malls and hotels — said the net revaluation surplus stood at RM108 million, after taking into account capital expenditure of RM65 million, based on the REIT's unaudited results for financial year ended June 30, 2019 (FY19).

Going forward, the manager of YTL REIT expects the trust to achieve satisfactory performance for FY20, after considering the strength of the real estate portfolio invested.

Its wholly-owned subsidiary, Leader Cable Industry Bhd (LCIB), signed the deal with Supermax’s wholly-owned unit Maxter Glove Manufacturing Sdn Bhd (MGMSB).

Worse, the government's attempt to revive the botched construction is again facing delays, as the contract was given to the same contractor that undertook the project originally. 

"There will be some changes on how we will tender it (LSS project), but it will be more innovative and hopefully drive the cost even lower."

In Penang, Paramount will be also launching the third phase of its Utropolis Batu Kawan project, with an estimated GDV of RM240 million.

IJM Corp said its wholly-owned unit, IJM Construction Sdn Bhd (IJMC), received the notice of termination from the LRT3 turnkey contractor, MRCB George Kent Sdn Bhd (MRCBGK), yesterday.

"The acquisition is for the company's own occupancy in the future as well as for letting," said PWF.