"We are encouraged by our first half results, despite having expired contracts, we have successfully secured new contracts worth approximately RM80 million in the first half of the year.”
An indirect subsidiary has been given the option to secure a significant plot of land for a solar photovoltaic plant.
The group said it has received a new letter of appointment and notices of termination from MRCB George Kent Sdn Bhd, the LRT3 project delivery partner.
Revenue for the quarter came in at RM39.19 million, down 10.3% y-o-y versus RM43.69 million.
He replaces managing director Teoh Seng Kian, who has tendered his resignation citing other work commitment.
Looking ahead, IGB REIT said it would continue to push its asset enhancement initiatives and to raise on-ground promotional activities for shoppers and visitors...
On prospects, the commercial REIT said occupancy rates and rental rates will continue to be influenced by soft market sentiments.
The project is also known as Duta-Ulu Kelang Expressway (DUKE) Phase-3.
The property, sitting on a piece of leasehold land measuring 90,040 sq ft, comes with a double-storey factory-cum-office building. Currently, the occupancy rate of the factory is 100%.
MAHB said the development is not expected to have any material impact on the earnings and net assets of the company, since it is subject to strict proof at the full trial of this case in November.
The only property app you need. More than 200,000
sale/rent listings and daily property news.
