Kenanga Research has maintained its "neutral" stance on the property sector, naming Eco World Development Group Bhd (EcoWorld) and IOI Properties Group Bhd as its top picks, which have strong cash flows that could anchor good dividends in the current challenging operating environment.

Commercial real estate investment activity in Asia Pacific declined by 17% year-on-year in 2Q2023 as investors remained cautious when making capital deployment decisions.

CGS-CIMB maintained its "buy" call on Sime Darby Property Bhd and raised its target price (TP) by 19% to 87 sen from 73 sen on the group’s diversified product mix, high unbilled sales and strong balance sheet.

Property developer Axteria Group Bhd has proposed a private placement of up to 10% of its total number of issued share capital to raise RM11.3 million.

Ecobuilt Holdings Bhd said its wholly-owned unit Eko Bina Sdn Bhd has issued a notice of adjudication to Golden Wave Sdn Bhd over a payment dispute relating to a serviced apartment and retail units project in Kota Kinabalu.

Practice Note 17 (PN17) company Top Builders Capital Bhd said on Thursday (Aug 10) that its external auditor, Kreston John & Gan, has resigned on a volunary basis.

Berjaya Land Bhd (BLand) has appointed Abang Abdillah Izzarim Abang Abdul Rahman Zohari as an independent and non-executive director, effective Thursday (Aug 10).

NCT Alliance Bhd (formerly Grand-Flo Bhd) is undertaking another private placement exercise of about 10% of its share base to raise some RM54.42 million, based on an illustrative price of 37 sen, mainly to fund its property development of the Grand Ion Majestic and Ion Vivace projects. 

Rapid Synergy Bhd’s wholly-owned subsidiary Persiaran Eksklusif Sdn Bhd (PESB) is disposing of two pieces of land to Dunnes Sdn Bhd for RM16 million cash, which will be utilised mostly for working capital and the redemption of a loan.

Berjaya Corp Bhd (BCorp) founder and adviser Tan Sri Vincent Tan and BCorp's unit Berjaya Land Bhd (BLand) are suing caretaker Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor over alleged defamatory remarks relating to the Selangor Maritime Gateway (SMG) project.