Latest news with #RM2.65
New Straits Times
3 hours ago
- Business
- New Straits Times
EPF lifts YTL Corp stake by nearly 170mil shares to 7.82pct in two weeks
KUALA LUMPUR: The Employees Provident Fund (EPF) has continued its buying streak in YTL Corp Bhd, lifting its stake to 7.82 per cent or 888.05 million shares as of July 7. This marks an accumulation of over 169.47 million shares in multiple transactions from 6.35 per cent, up 1.47 percentage points in just two weeks, YTL Corp's bourse filings show. Over the same period, shares of YTL Corp have climbed 17.87 per cent or 37 sen to RM2.44 on July 3, from RM2.07 on June 23, in a rally that may have been driven by the fund's support. Notably, on June 25, EPF purchased 125.89 million shares in three transactions when the stock was trading between RM2.10 and RM2.14, significantly boosting its stake from 6.35 per cent to 7.45 per cent in just two days. Based on market prices at the time, EPF is estimated to have spent around RM266.88 million on that day alone. This followed an earlier buy on June 23, where EPF acquired 10 million shares at a time when YTL Corp was trading between RM2.07 and RM2.12. Another 10 million shares were purchased on July 7 when the stock was hovering at RM2.42 to RM2.47, bringing its stake to the latest 7.82 per cent. EPF had re-entered YTL Corp as a substantial shareholder on Jan 8, with a 5.03 per cent stake after acquiring six million shares when the stock was trading at RM2.65. It had previously exited the company's substantial shareholder list in April 2023. The current accumulation appears to be a strategic move to lower the average entry cost while riding on YTL Corp's growth outlook. This includes the firm's ventures into data centres and renewable energy infrastructure, which have drawn investor attention. Meanwhile, the retirement fund also raised its stake in property developer Gamuda Bhd by 63.73 million shares, increasing its holding by 1.10 percentage points, from 14.36 per cent to 15.46 per cent, over the same period. Gamuda shares traded between RM4.70 and RM5.10 during that time. EPF has been a substantial shareholder in the company for at least four years.
New Straits Times
06-07-2025
- Business
- New Straits Times
Mah Sing property sales on track for RM2.65bil target
KUALA LUMPUR: Mah Sing Group Bhd's sales momentum is expected to remain steady, supported by its latest township, M Legasi in Semenyih, MIDF Research said. Mah Sing continues to record strong sales, securing total new property sales of RM1.01 billion in the first five months of the financial year ending Dec 31, 2025. The research house said the company remains on track to achieve its full-year new sales target of RM2.65 billion, supported by its affordable housing-focused M Series projects. "We expect M Series projects, which are priced within an affordable range, to continue sustaining new sales momentum. "Aside from M Legasi in Semenyih, planned launches in the second half of financial year 2025 (2HFY25) include Meridin East in Johor Bahru, M Tiara 2 & Tiara Hills in Johor Bahru, M Grand Minori in Johor Bahru, M Aurora in Old Klang Road, M Aria in Sentul, M Zenni in Southbay City Penang and Icon City 2 in Petaling Jaya," it said. Under the master plan concept, M Legasi will be developed into three precincts: Impira precinct on 100 acres of land, Adiya precinct on 93 acres of land, and Embun precinct on 287 acres of land. MIDF Research noted that Phase 1A and 1B in the Impira precinct, which consist of 330 individual-titled two-storey terrace home units, have recorded an encouraging take-up rate of 80 per cent. "We believe the decent take-up rate was due to the affordable pricing starting from RM635,000," it said. Overall, the firm has maintained its earnings forecast for Mah Sing for financial year 2025 (FY25), financial year 2026 (FY26), and financial year 2027 (FY27). The firm has also maintained its "Buy" call on the stock with an unchanged target price of RM1.37. "We maintain our Buy call on Mah Sing due to the stable new sales outlook, which is underpinned by launches of affordable residential projects. Meanwhile, dividend yield is decent at 3.9 per cent," it added.
The Star
24-06-2025
- Business
- The Star
IGB REIT proposes RM2.65bil acquisition of The Mall, Mid Valley Southkey in Johor
KUALA LUMPUR: IGB Real Estate Investment Trust (IGB REIT) has proposed to acquire The Mall, Mid Valley Southkey (MVS Mall) in Johor Bahru for RM2.65 billion. In a filing with Bursa Malaysia today, IGB REIT said the acquisition will be undertaken by MTrustee Bhd, acting as trustee for and on behalf of IGB REIT, from Southkey Megamall Sdn Bhd (SMSB). The proposed acquisition includes the mall, its operational assets, tenancy agreements, essential contracts and related components, it said. "MVS Mall comprises five levels of retail mall with a mezzanine floor, together with eight levels of split-level elevated car parks and two levels of basement car parks,' it said. IGB REIT said the purchase consideration will be settled via a combination of RM1 billion in cash and RM1.65 billion through the issuance of new IGB REIT units. The acquisition is not expected to have any material effect on IGB REIT's earnings, earnings per unit and distributable income per unit for the financial year ending Dec 31, 2025, as the deal is only expected to be implemented and completed in the fourth quarter of 2025, it said. In a separate statement, IGB REIT said MVS Mall would be a new addition to its portfolio, with expectations of stable recurring income and potential for future growth. "This is underpinned by its prime location within the integrated Mid Valley Southkey development in Johor Bahru, a key economic zone. "MVS Mall also features a robust tenant mix, which includes anchor tenants such as Sogo, Village Grocer, Golden Screen Cinemas, Aurum Theatre and MVEC Exhibition Hall,' it added. - Bernama
New Straits Times
24-06-2025
- Business
- New Straits Times
IGB REIT proposes RM2.65bil acquisiton of MVS Mall in Johor
KUALA LUMPUR: IGB Real Estate Investment Trust (IGB REIT) has proposed to acquire The Mall, Mid Valley Southkey (MVS Mall) in Johor Bahru for RM2.65 billion. In a filing with Bursa Malaysia today, IGB REIT said the acquisition will be undertaken by MTrustee Bhd, acting as trustee for and on behalf of IGB REIT, from Southkey Megamall Sdn Bhd (SMSB). The proposed acquisition includes the mall, its operational assets, tenancy agreements, essential contracts and related components, it said. "MVS Mall comprises five levels of retail mall with a mezzanine floor, together with eight levels of split-level elevated car parks and two levels of basement car parks," it said. IGB REIT said the purchase consideration will be settled via a combination of RM1 billion in cash and RM1.65 billion through the issuance of new IGB REIT units. The acquisition is not expected to have any material effect on IGB REIT's earnings, earnings per unit and distributable income per unit for the financial year ending Dec 31, 2025, as the deal is only expected to be implemented and completed in the fourth quarter of 2025, it said. In a separate statement, IGB REIT said MVS Mall would be a new addition to its portfolio, with expectations of stable recurring income and potential for future growth. "This is underpinned by its prime location within the integrated Mid Valley Southkey development in Johor Bahru, a key economic zone. "MVS Mall also features a robust tenant mix, which includes anchor tenants such as Sogo, Village Grocer, Golden Screen Cinemas, Aurum Theatre and MVEC Exhibition Hall," it added. -- BERNAMA
Barnama
24-06-2025
- Business
- Barnama
IGB REIT Proposes RM2.65 Bln Acquisition Of MVS Mall In Johor
BUSINESS KUALA LUMPUR, June 24 (Bernama) -- IGB Real Estate Investment Trust (IGB REIT) has proposed to acquire The Mall, Mid Valley Southkey (MVS Mall) in Johor Bahru for RM2.65 billion. In a filing with Bursa Malaysia today, IGB REIT said the acquisition will be undertaken by MTrustee Bhd, acting as trustee for and on behalf of IGB REIT, from Southkey Megamall Sdn Bhd (SMSB). The proposed acquisition includes the mall, its operational assets, tenancy agreements, essential contracts and related components, it said. 'MVS Mall comprises five levels of retail mall with a mezzanine floor, together with eight levels of split-level elevated car parks and two levels of basement car parks,' it said. IGB REIT said the purchase consideration will be settled via a combination of RM1 billion in cash and RM1.65 billion through the issuance of new IGB REIT units. The acquisition is not expected to have any material effect on IGB REIT's earnings, earnings per unit and distributable income per unit for the financial year ending Dec 31, 2025, as the deal is only expected to be implemented and completed in the fourth quarter of 2025, it said. In a separate statement, IGB REIT said MVS Mall would be a new addition to its portfolio, with expectations of stable recurring income and potential for future growth. 'This is underpinned by its prime location within the integrated Mid Valley Southkey development in Johor Bahru, a key economic zone. 'MVS Mall also features a robust tenant mix, which includes anchor tenants such as Sogo, Village Grocer, Golden Screen Cinemas, Aurum Theatre and MVEC Exhibition Hall,' it added.
