News by theedgemarkets.com

Guocoland (Malaysia) Bhd’s net profit fell significantly by 90.81% to RM6.73 million for the third quarter ended March 31, 2022 (3QFY21), compared with RM73.23 million a year earlier when the group had gained from the disposal of a piece of land in Jasin, Melaka.

At JLL’s 1Q2022 Real Estate Market Perspective webinar on Tuesday (April 26), on the topic of “What’s next in APAC and Malaysia Logistic Sector?”, JLL research and consultancy Eva Soo shared that despite more supply of industrial properties and warehouses that are expected to enter the market from 2023 onwards, the overall property occupancy rate and rental outlook remains bright.

TWL said the proposed acquisition is in line with the group’s business strategy of focusing on the construction and property development segments. As at April 22, TWL is involved in eight ongoing property projects with an estimated total GDV of RM1.81 billion.

At Monday's signing ceremony between L&G and Affin Bank, Astoria Ampang, Damansara Seresta and Sena Parc are the latest participating projects of Affin Bank’s Home Step Fast/-i mortgage product.

In a statement, E&O said TPD had issued RM847.8 million out of the RM1.3 billion first tranche with the remaining RM452.2 million available for issuance, and the 0.25% profit rate reduction would translate into annual cost savings of RM2.1 million based on the current amount issued.

In a bourse filing on Friday (April 22), Sunsuria said its wholly-owned subsidiary Sunsuria Residence Sdn Bhd has entered into a sale and purchase agreement with Superjet Revenue Sdn Bhd for the proposed land acquisition.

DBKL’s lawyer B. Thangaraj submitted to a three man bench via online proceedings that the targeted land was intended for mixed development, and that the Court of Appeal had made an error in quashing the development order issued to developer Memang Perkasa Sdn Bhd for the project.

Kawan Food said it intends to build a second manufacturing facility for its operations on the proposed site. It plans to expand its cold room facility to include a warehouse and cold chain distribution for in-house and external products, equipped with new technology such as robotic automated warehouse to cater for frozen, chilled and ambient food products.

According to Tanjung Pinang Development's website, the company holds the concession rights to both phases of the Seri Tanjung Pinang (STP) reclamation project at the north-east coast of Tanjung Tokong in Penang.

The research house's analyst Loong Kok Wen said in a note that degearing is now management’s top priority, and she believes the handover of a few projects in Melbourne and Singapore, as well as the potential completion of some land disposals, will help reduce the group’s net gearing to 0.51 times to 0.53 times by year end from the current 0.61 times (including non-controlling interests).