The 30-year lease on the buildings to KYSA Education Sdn Bhd, which started on June 22, will be novated to MTrustee upon completion of the deal via a deed of novation between the lessee, trustee and vendor.

“A new rental tenancy regulation will be introduced to promote rental as an alternative to home ownership.”

UEM Sunrise’s indirect unit Mega Legacy (M) Sdn Bhd (MLSB) is selling the land to Pembinaan Kery Sdn Bhd (PKSB), a unit of Melati Ehsan Holdings Bhd.

An ongoing dispute initiated by Tan Sri Jamaludin Jarjis’ widow Puan Sri Dr Kalsom Ismail for the late minister’s RM2.1 billion estate will go to trial, after settlement talks initiated in November last year failed to materialise.

Eastern & Oriental Bhd (E&O) saw its executive chairman and executive director increase their stake in the group with the conversion of irredeemable convertible unsecured loan stocks (ICULS) to ordinary shares.

ECM Libra Group Bhd is to acquire two pieces of beachfront land in Johor for an aggregate RM36.86 million for future hospitality developments.

BMI, a Fitch Solutions company, has maintained that Bank Negara Malaysia (BNM) will keep the overnight policy rate on hold at 3% until end-2023 and begin cutting rates early in the first half of 2024 (1H2024), alongside other major central banks including the US Federal Reserve.

Most economists expect Bank Negara Malaysia (BNM) to maintain the overnight policy rate (OPR) at 3% till the end of 2024, noting that the central bank’s  focus has now shifted to ensuring stable economic growth in the face of external risks such as the resumption of the US Federal Reserve’s interest rate hike and China’s credit contagion effects.

Fiamma Holdings Bhd said it has paid RM109.65 million for an alienation land approval to develop a 1.88-acre land along Jalan Yap Kwan Seng.