News by theedgemalaysia.com

Sentral REIT (KL:SENTRAL), which mainly manages office towers, said on Thursday its net property income rose 25% in the third quarter ended Sept 30, 2024 (3QFY2024) from a year earlier, boosted by revenue from a newly acquired property.

The federal government on Thursday disputed Semantan Estate (1952) Sdn Bhd’s possession of the 263.72-acre (106.72-hectare) ‘Duta Enclave’ prime land, saying that the company, which is presently under liquidators’ control, is only entitled to monetary compensation based on the Government Proceedings Act 1956 (GPA) and the Specific Relief Act 1950 (SRA).

Mah Sing Group Bhd (KL:MAHSING) has acquired a 5.24-acre (2.12-hectare) freehold parcel in Old Klang Road here for approximately RM113 million from Team Keris Bhd to develop a new transit-oriented development (TOD) named M Aurora.

Following Bank Negara Malaysia's (BNM) decision on Wednesday to maintain the overnight policy rate (OPR) at 3%, which marks 18 months of rate pause, economists expect the central bank to leave the benchmark interest rate unchanged throughout 2025 as well.

Haily Group Bhd (KL:HAILY) has secured a contract worth RM89.9 million from Mah Sing Group Bhd (KL:MAHSING) to build terrace homes for a housing project in Taman Tiara Indah, Johor Bharu, Johor, which pushes the value of its outstanding orders past RM1 billion.

JAKS Resources Bhd (KL:JAKS) on Wednesday said it has agreed to pay RM5 million cash to Star Media Group Bhd (KL:STAR) to settle their legal dispute over the development of a parcel of land in Section 13, Petaling Jaya.

Bank Negara Malaysia (BNM) has kept the overnight policy rate (OPR) unchanged at 3% as widely expected as it noted the continued expansion of the global economy and the sustained strength of domestic economic activities with inflation remaining "modest".

Paragon Platinum Sdn Bhd, a wholly owned subsidiary of Paragon Globe Bhd (KL:PGLOBE), commenced construction of its Desa 27 industrial development in Desa Cemerlang, Johor Bahru, last Saturday (Nov 2).

The Employees Provident Fund (EPF) has set aside a provision of RM24 million following an accounting adjustment at its Battersea joint venture (JV) firm.

Construction player Gagasan Nadi Cergas Bhd (KL:NADIBHD) is buying two companies for RM185 million, cash, to gain control of Konsortium PAE Sepakat Sdn Bhd (KPSSB), which owns a facility management concession for student hostel facilities in seven polytechnic campuses.