Latest news with #RM11.3mil
The Star
15 hours ago
- Business
- The Star
KIP-REIT gets nod for retail property buy
KUALA LUMPUR: KIP Real Estate Investment Trust (KIP-REIT) unit holders approved at its EGM yesterday the group's expansion plan to acquire four retail properties in Kuantan and Selangor for RM118mil and a concurrent private placement to raise RM132mil. It stated that the four newly approved assets, KIPMall Desa Coalfields, Lotus's Indera Mahkota, and two commercial buildings within an integrated development in Kuantan, are projected to contribute a combined revenue of RM11.3mil and net property income of RM8mil in the first full year of operation. 'This is equivalent to 11.7% and 11.6% of the group's nine-month financial year 2025 revenue of RM96.2mil and net property income of RM68.8mil, respectively, highlighting the strong earnings accretion potential of the expansion,' it said.
The Star
a day ago
- Business
- The Star
KIP REIT gets unitholders' go-ahead for property acquisition, private placement
Artist impression of the upcoming asset enhancement initiative at KIPMall Tampoi, slated for completion by 1QFY26 KUALA LUMPUR: Unitholders of KIP Real Estate Investment Trust (REIT) have given the green light at its extraordinary general meeting (EGM) for the RM118mil acquisition of four retail properties in Kuantan and Selangor as well as a RM132mil private placement to fund part of the purchase and subsequent enhancements. The target properties comprise KIPMall Desa Coalfields, Lotus's Indera Mahkota, and two commercial buildings within an integrated development in Kuantan, which are projected to contribute a combined revenue of RM11.3mil and net property income of RM8mil in the first full year of operations. According to KIP REIT, this is equivalent to 11.7% and 11.6% of the group's 9MFY2025 revenue of RM96.2mil and net property income of RM68.8mil respectively, highlighting the strong earnings accretion potential of the expansion. The newly acquired assets are expected to deliver an average initial yield of 6.8%, underpinned by long-term lease structures. With the purchase of the assets, KIP REIT's total portfolio value is expected to hit RM1.6bil while its properties will span a net lettable area of over 3.4 million sq ft. Concurrently, KIP REIT's private placement has entered its book-building phase, with price-fixing targeted for mid-August 2025. The exercise will see the placement of up to 160 million new units with an aim to raise gross proceeds of about RM132mil. Of the proceeds, the bulk or RM106.6mil will go towards partial settlement of the acquisitions. RM21.9mil will be used for asset enhancement initiatives at KIPMall Tampo and the remaining RM3.9mil for estimated expenses. 'We are grateful for the strong support from our unitholders. This expansion strengthens our retail income portfolio, enhances earnings visibility, and supports sustainable DPU accretion. "The new assets contribute meaningful recurring income and strengthen our presence in key suburban and emerging growth areas such as Selangor and Kuantan,' said KIP REIT CEO Valerie Ong.
The Star
20-06-2025
- Business
- The Star
PMCK poised for growth with IPO plans
PETALING JAYA: PMCK Bhd, a private healthcare provider enroute to listing on the ACE Market of Bursa Malaysia, intends to pay at least 20% of its net profit as a dividend going forward. TA Research assumes a dividend payout of 20% to 44% across financial year 2025 (FY25) to FY27 and projects forward yields to be at 1.3% to 2.1%. TA Research said for its initial public offering (IPO) price of 22 sen a share, PMCK is priced at a trailing price earnings ratio (PE) of 15.9 times based on FY24 earnings per share (EPS). The research house forecast a target PE of 16 times FY26 EPS for the counter, while deriving a fair value of 23 sen a share. PMCK is operating the Putra Medical Centre in Alor Setar, Kedah and has been in the business for over 30 years, offering specialist consultant services and clinical support, with 40 consultants across 17 specialisations. PMCK will raise RM60mil through its IPO on Bursa Malaysia. It wants to strengthen its presence in northern Malaysia to attract patients and drive long-term revenue growth. Thus far, Kedah has one of the lowest private hospital bed densities in Malaysia, highlighting a significant gap in private healthcare access. As part of its expansion, PMCK is constructing a new medical centre, PMC Kulim, with operations targeted to start by the first quarter of financial year 2028 (1Q28). The 12-storey private medical centre comes with a seven-storey mixed development comprising a four-storey hotel with a two-storey food court and carparks. PMCK will consolidate the RYM DX Laboratory Sdn Bhd (medical lab) into PMC Kulim by 1Q28 to cater to increasing demand for diagnostic services. It will upgrade the equipment and facilities in PMC Kedah under clinical support services (medical lab) and facilities services (radiology unit). TA Research projects net profit to contract by 24.8% to RM11.3mil in FY25, as it expects patient numbers to drop by 20% due to the flooding in Alor Setar and surrounding areas, which hindered patient access. It expects the profit after tax margin to decline to 12.1% (versus 14.4% in FY24) due to softer patient volumes and higher administrative expenses as PMCK's facilities remained fully operational during the heavy rainfall between September and December 2024.
The Star
23-05-2025
- The Star
Two more ex-bank officers remanded over RM11.3mil loan fraud probe
SANDAKAN: Two former bank officers have been remanded for seven days to in the case involving RM11.3mil in loans using falsified documents. Magistrate Siti Aisyah Umar Baki granted the remand order until May 29 following an application by the Malaysian Anti-Corruption Commission (MACC) here on Friday (May 23). The two are the latest to be detained in connection with the case. On Thursday (May 223), five men, including four bank officers, were remanded for seven days until May 28. All suspects are believed to have conspired to solicit and receive RM300,000 in bribes from a company owner for approving 39 loan applications using forged documents. Sabah MACC director Datuk S. Karunanithy confirmed the arrests, adding that the case is being investigated under Section 16(a)(A) of the MACC Act 2009. – Bernama
The Star
22-05-2025
- Politics
- The Star
Asean News Headlines at 10pm on Thursday (May 22, 2025)
Malaysia * Govt reviewing proposal to extend retirement age to 65, says Anwar * PKR polls: Members will keep party 'fresh' no matter the result, says Rafizi * No matter what happens, Rafizi will always be my friend, says Nurul Izzah * No further action on Teoh Beng Hock's death, says AG's Chambers * International cooperation needed for GLC investment probe, says MACC * National language important for country's development, says Anwar * PKR issues warning to Rafizi for listing preferred candidates * Housing Ministry submits MyKiosk documents to MACC * MACC in process of seizing late Daim's assets worth billions * Defence Ministry inks strategic arrangements worth RM11bil at Lima '25 * Navy buys US unmanned surface vehicle to boost maritime defence * Investigation into Pamela Ling's disappearance a police matter, says MACC * MACC to record statement from Ismail Sabri's former son-in-law * Arrest warrant issued against woman over fake post on royalty * Four bank officers among five held over RM11.3mil loan fraud * MACC to scrutinise report and documents submitted on MyKiosk 2.0 project * Housewife loses hundreds of thousands in online investment scam * FRU Crash: Four personnel in stable condition * Perhilitan expects elephant sanctuary in Gerik to be operational by 2030 * Police detain woman linked to acid attack in Bachok Singapore * News Analysis - Singapore's new crop of office-holders largest since 2001, reshuffle provides for minority succession in Cabinet * Jail for man in Singapore who used bogus wine investment scheme to pocket S$12.67mil of investors' funds * China woman in Singapore who duped firm into delivering metal sheets worth nearly S$7mil gets 9½ years' jail * Six men in Singapore to be charged over child sexual exploitation offences, including commercial sex with a minor * Man in Singapore who sexually assaulted stepdaughter despite wife's warning gets jail, caning * Beijing slams video posted by US embassy in Singapore about South China Sea * Missing for two years, wife of former Singapore basketball coach confirmed dead in Japan * Making stylish 'cat cottages' a labour of love for Singapore woman * Singapore keeps 2025 growth forecast at 0% to 2%, though outlook 'improved slightly' from trade truces * No sharp turns in Singapore PM's first post-election Cabinet, but leadership shifts afoot: Analysts * Lady Gaga spices things up at food centre * Wong sticks with 'experienced hands' Indonesia * Clashes erupt during tuition fee protest at Papua university in Indonesia * Convicted Indonesian military general set to get key finance ministry post * Police arrest six members of viral incest-promoting Facebook group * Indonesia set for more rate cuts on growth view: Analysts Thailand * Thai ex-PM Yingluck ordered to pay US$305mil in damages over rice scheme * Yingluck's lawyers push for retrial in rice pledging case fight * Yingluck speaks out after court orders over US$305mil compensation * Malaysia and Thailand to enhance power grid interconnection facilities * Rescue efforts delayed by underground structures at Bangkok metro site * Thai govt drives 'Diwali 2025' festival to boost Indian tourism in Thailand * Three arrested in Thailand for allegedly swindling tourists with fake hotel bookings * Rock star jailed on gun, drug charges * Top city for tourist fraud Philippines * Philippines says China Coast Guard fired water cannon, 'sideswiped' govt vessel * Philippine Senate invites House prosecutors to Sara Duterte impeachment trial * Philippines' Marcos asks cabinet secretaries to resign in government reset Vietnam * Vietnam's poultry industry faces major challenges amid weak value chain linkages * Vietnam boosts rice trade through 2030 with new measures * Eric Trump attends groundbreaking event for US$1.5bil Vietnam resort * Beauty queen arrested for fibre gummy fraud Myanmar * Myanmar ex-general slain in attack claimed by anti-coup fighters * 'I saw a ship dropping many people into the sea': India accused of returning Rohingya refugees to Myanmar Cambodia * Belt and Road Initiative-backed industrial zone in Cambodia celebrates entry of over 200 enterprises * Cambodia's first helicopter relocation of endangered banteng deemed a success * Cambodia, Indonesia strengthen joint efforts to fight transnational crime Laos * Laos moves to raise vaccine awareness, boost immunisation coverage * Asean-Korea Centre boosts trade ties in Laos and Thailand Brunei * Stronger commitment urged to elevate Malay, Indonesian languages in Brunei * Brunei's economic outlook remains stable: Research house Aseanplus * Chinese Premier Li Qiang to attend Asean-GCC Summit in Malaysia * Man stabs three police officers in South Korea: Yonhap * Two Japanese soldiers confirmed killed in training plane crash * Bangladesh's interim government 'undermining' freedoms: rights group * Taiwanese singer Jeffrey Kung marries Malaysian girlfriend, to hold wedding in Putrajaya * India, Pakistan expel High Commission officials * 19 trapped in southwest China landslides * No booze, no bouquets: China tightens frugal code for officials * Malaysia welcomes joint statement calling for resumption of humanitarian aid in Gaza * HK actor Ai Wai says wife has died at 61, over a week after plea for liver donor * Japan taxi driver suspected of raping 50 women: Reports * Stain of martial law bid deters use of South Korea Yoon's office * Pro-skateboarder from China seriously hurt after stunt goes awry * Chow aims for Penang govt to have RM1bil reserves by end of his term * Massive floods strand over 50,000 in eastern Australia * Pakistan will not get water over which India has rights, India PM Modi says * Computex 2025: Five takeaways from Asia's biggest AI tech show * China's 'vegetable capital' to test farming know-how in UAE's harsh deserts * New deal with Asean to lift free trade * China bride goes viral for angelic beauty, hails from family renowned for stunning looks * Chinese drone maker EHang sees flying taxis take off by 2030 on the mainland * AirAsia formalises RM99.5mil charter service contract with Malaysian armed forces * Malaysia will continue to support regional digital development, AI, says Anwar * Did China just take the lead in race for space-based AI computing dominance? * China and Pakistan reaffirm ironclad ties in FM Dar's first trip after conflict with India * Japan's Ishiba calls for closer weapons development with allies * 'Thrift is honourable': Chinese officials made to economise for the economy * North Korea fires multiple cruise missiles, South Korea says * Asean Summit 2025: PLUS advises highway users to plan ahead due to road closures * Asian equities track Wall St sell-off as US deficit fears grow * Bursa investors await fresh leads as corporate results underway, US debt discussions weigh * North Korean leader Kim Jong Un condemns warship accident as 'criminal' * Barbie Hsu's ex, 44, holds wedding celebration with new wife, 26 – guests receive Bulgari gifts, porcelain keepsakes * Ringgit opens firmer against US$ on weaker US economic data * Three dead in Australia after torrential rain ravages rural towns * US$500mil for WHO over the next five years
