News by theedgemarkets.com

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).

According to Luxchem’s bourse filing, Luxchem Trading Sdn Bhd (LTSB), a wholly-owned subsidiary of the company, has entered into a sale and purchase agreement (SPA) with Worldwide Emergency Assistance (Malaysia) Sdn Bhd to purchase the whole of Block N at Jaya One, Petaling Jaya.

In a Bursa Malaysia filing on Wednesday (April 20), the REIT said its revenue increased by 4.7% to RM18.83 million compared with RM17.99 million, supported by lower rental rebate amortisation and better promotional area income as a result of the further relaxation of the standard operating procedures during the quarter compared with a year ago.

In a statement, OCR said the joint venture will be undertaken with Magna Prima's 70%-owned unit Magna Ecocity Sdn Bhd, who owns a 20-acre leasehold plot in Section 15, Shah Alam, Selangor.

The commercial property REIT — which has offices, warehousing and manufacturing facilities in its portfolio — reported a 16.02% increase in revenue to RM66.69 million from RM57.48 million a year prior.

The proposed disposal will also unlock the value and monetise Sinmah's investment in its wholly-owned subsidiary SM Broilers Sdn Bhd, with the proceeds earmarked for the development expenditure on the group's existing Taman Gambir Perdana mix project in Johor, which it said may allow the group to carry out its project in a more efficient manner.

In a bourse filing on Wednesday (April 20), Vizione said Permata Rebana & Vizione Holdings JV Sdn Bhd (PRVH) has accepted a letter of award from Perkeso for the proposed project, which  comprises 11 blocks. They include a gallery centre, neuro robotics, a cybernetics and physical rehabilitation centre, a vocational rehabilitation centre, a treatment centre, rehabilitation wards, hostel, aquatic rehabilitation centre, an administration centre with rooms, a graduation hall, as well as commercial space.

In a statement on Friday (April 15), the MBAM said the rise in material prices, induced by the pandemic as well as rise of material and energy costs, has negatively impacted contractors handling both government and private projects.

In a Bursa Malaysia filing on Friday (April 15), the construction engineering company said its wholly-owned subsidiary Econpile (M) Sdn Bhd received the award for the project from CJ Energy Solutions Sdn Bhd.

The research house said in a note that it came back from AEON Co’s virtual meeting with a sense of optimism about the group’s outlook premised on its cost-structuring strategies to improve its bottom line and maintain prices of items, personalisation of customer experience, a recovery in sales in the southern region which was affected due to border closures, and an improvement in occupancy rates.