KUALA LUMPUR (Sept 8): 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. In a note on Thursday,...
Read moreKUALA LUMPUR (Sept 7): SkyWorld Development (Vietnam) Company Ltd, a wholly owned subsidiary of SkyWorld Development Bhd, is acquiring 1.3 acres (0.53 hectare) of land in Ho Chi Minh City, Vietnam. In a filing with Bursa Malaysia on Thursday, the company said it acquired the land by way to purchasing 100% stake or 1.7 million...
Read moreKUALA LUMPUR (Sept 7): 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. The approval was granted by the Federal Territories director of Lands and Mines Office, the household goods trading outfit said in a filing. The leasehold land, which...
Read moreSINGAPORE (Sept 6): Singaporean MeGroup’s Malaysian subsidiary Menang Nusantara Sdn Bhd (MNSB) has acquired a property at Lot 16, Jalan 3, Kawasan Perusahaan Cheras Jaya at Balakong, Selangor for RM16.2 million (S$4.7 million). A sale and purchase agreement (SPA) was entered into between MNSB and the vendor, Ngai Ming Plastic Industries (M) Sdn Bhd, on Wednesday. The 99-year leasehold property...
Read moreKUALA LUMPUR (Sept 6): Eco World Development Group Berhad has entered into a conditional sale and purchase agreement with IOI Prima Property Sdn Bhd to acquire 403.78 acres of land located in Mukim Senai, Daerah Kulai, Johor for a purchase consideration of RM211.065 million to be settled in cash. EcoWorld announced today that the land is strategically located, easily...
Read morePETALING JAYA: In an environment where rising interest rates have led to falling demand, thereby weakening market sentiment, property and construction counters on Bursa Malaysia have done remarkably well. For instance, share prices of UEM Sunrise Bhd, Iskandar Waterfront City Bhd and Eco World Development Group Bhd have returned to pre-Covid highs. UEM Sunrise stocks...
Read moreKUALA LUMPUR (Sept 6): Eco World Development Group Bhd (EcoWorld Malaysia) is acquiring 403.78 acres of land in Mukim Senai, Johor, to develop a business park to be known as Eco Business Park VI, for RM211.07 million cash. EcoWorld Malaysia said the land acquisition, earmarked with development carrying an estimated gross development value of RM1.58...
Read morePETALING JAYA (Sept 5): CapitaLand M Trust (CLMT) will see the disposal of 3 Damansara Office Tower (pictured), which it acquired in 2015, to Lagenda Properties Bhd for RM52 million. The sale consideration is at a 4% premium to its valuation of RM50 million at end-July, said CapitaLand M REIT Management Sdn Bhd (CMRM) in a...
Read morePETALING JAYA (Sept 3): S P Setia has acquired “a prime land site” in Sydney, New South Wales recently, representing its “maiden foray into this state”. In a media release yesterday, the site located at 20 Atchison Street in St Leonards is “nestled in the dynamic landscape of Sydney’s North Shore”, stated S P Setia. “This...
Read moreThe development of the Johor Bahru–Singapore Rapid Transit System (RTS) saw a hike in property prices and rental rates in Johor Bahru, particularly the areas surrounding the station. Meanwhile, Transport Minister Anthony Loke said the government, via Railway Assets Corporation (RAC), has identified 10 parcels of railway land across six states in Malaysia for potential...
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