Latest news with #RM250mil
The Star
6 days ago
- Business
- The Star
Mah Sing completes RM250mil sukuk issuance
KUALA LUMPUR: Mah Sing Group Bhd has completed the issuance of RM250mil secured and unrated Sukuk Murabahah under its existing Sukuk Murabahah Programme In a filing with Bursa Malaysia, the property developer said the Sukuk Murabahah has a five-year tenure and carries a fixed profit rate of 4.25% per annum, payable semi-annually. The sukuk is secured by assets owned by the company's subsidiaries and designated accounts. 'The proceeds raised from this issuance of sukuk Murabahah will be utilised for Shariah-compliant purposes which may include landbanking, capital expenditures, investments and working capital of Mah Sing and its subsidiaries and associate companies as well as the refinancing of the group's existing borrowings and/or to redeem the existing sukuk Murabahah,' Mah Sing said. Hong Leong Investment Bank Bhd is the principal adviser, lead arranger and lead manager for the sukuk Murabahah programme.
The Star
6 days ago
- Business
- The Star
NexG acquires properties for RM28.5mil
PETALING JAYA: NexG Bhd is acquiring a two-storey factory, a three-storey office block, a two-storey warehouse and a guardhouse in Petaling Jaya, Selangor from Pixio Sdn Bhd for RM28.5mil. In a filing with Bursa Malaysia, the security-based information and communications technology solutions provider said the acquisition is part of a strategic initiative aimed at enhancing production capacity and efficiency. NexG also said the acquisition of the properties will ensure the group is able to maintain its competitive edge and scalability as well as enable the company to support its existing and future projects. 'Additionally, by consolidating research, design, and production in the same area, NexG group is able to achieve greater operational efficiency, cost savings, improved quality control, and increased production capacity. 'This integration would also foster innovation and flexibility in product development and strengthen NexG group's market competitiveness.' Barring any unforeseen circumstances, the company expects to complete the acquisition by the fourth quarter of 2025. In a statement, NexG executive chairman and CEO Datuk Hanifah Noordin said the company is achieving further expansion momentum with the acquisition of a factory, office, and warehouse asset strategically located near its PJ 223 Manufacturing Centre. 'This acquisition forms a critical part of our planned RM250mil investment into Industry 4.0 secure ID documents production, to significantly boost our capacity and meet growing international demand for secure identity infrastructure. 'Furthermore, by consolidating our R&D and production activities in the same area, we can achieve greater operational efficiency, cost savings, improved quality control, and increased production capacity. 'Through the strengthening of our production capabilities, along with our substantial investments in AI and other next-generation technologies, we are accelerating NexG's transformation into a regional leader in physical and digital identity markets,' he said.
The Star
01-07-2025
- Business
- The Star
Kompleks Arena Seremban opens its doors
PETALING JAYA: Kompleks Arena Seremban, a RM250mil integrated development, officially opened its doors in Seremban on June 28. Developed by Karisma Perwira Sdn Bhd, a subsidiary of the Lee Tian Hock Yong Chou Lian (L) Foundation, the project occupies 4.45 acres with a total built-up area of 650,000 sq ft, featuring five integrated components. These are namely, the Karisma Arena, Arena Premier Hotel, Menara Karisma, Arena Square and Arena Residences. Graced by Negeri Sembilan Mentri Besar Datuk Seri Aminuddin Harun, the grand opening signified the realisation of Datuk Seri Lee Tian Hock's vision to deliver a vibrant 5-in-1 destination that seamlessly blends business, hospitality, lifestyle, and community under one address, it said in a statement. At the launch, Lee said the Kompleks Arena Seremban represents their long-term commitment to contribute meaningfully to the growth of Negeri Sembilan. 'This is more than a development; it is a community hub designed to bring people together — be it for business, leisure, culture, or recreation,' he said. Meanwhile, Aminuddin said the opening of the Kompleks Arena Seremban marked an important milestone in Negeri Sembilan's urban development agenda. 'As the first purpose-built arena of its kind in Seremban, it enhances the township's infrastructure and supports the state government's vision to foster vibrant, liveable townships that offer economic opportunities, lifestyle enrichment, and social well-being for the people. 'We believe this development will not only serve the needs of our communities today, but also strengthen Seremban's appeal as a destination for tourism, investment, sports and regional growth,' he said. The complex has been master-planned to support a diverse range of activities, positioning Seremban as an emerging destination for concerts and cultural performances, international and local sporting events, e-sports and fitness expos, corporate launches, seminars and business functions, as well as festivals, family day events and educational programmes. 'By offering modern infrastructure, strategic accessibility, and purpose-built facilities, the Kompleks Arena Seremban is poised to attract local and international visitors, creating economic spillover and positioning Seremban as a dynamic hub for commerce, lifestyle, and tourism,' the statement said. As the Kompleks Arena Seremban opens its doors, it stands as a testament to forward-looking development that balances commercial ambition with community enrichment, supporting Negeri Sembilan's broader growth aspirations.
The Star
05-06-2025
- Business
- The Star
CLMT's RM250mil fundraise to reduce gearing
TA Research said the placement would support the REIT's continued diversification into logistics and industrial assets. PETALING JAYA: Capitaland Malaysia Trust 's (CLMT) proposed private placement to raise up to RM250mil is being viewed positively as a successful placement will enable the real estate investment trust (REIT) to reduce net gearing that has climbed due to borrowings to acquire industrial assets. Maybank Investment Bank Research, which has maintained a 'buy' recommendation on the stock and raised the target price to 76 sen from 75 sen, projects the REIT's net gearing to be reduced to 39.6% post-placement from 44.1% in the first quarter ended March 31, 2025 (1Q25) based on existing borrowings for the industrial asset acquisitions. 'We are positive on this exercise as it enhances CLMT's balance sheet strength and provides additional headroom for future yield-accretive acquisitions,' the research house said, as proceeds from the placement would be used to partly refinance borrowings of RM400mil of completed and pending logistics as well as industrial assets. It added that these acquisitions would be expected to contribute RM20mil in gross rental income annually or around 4% of the financial year ending Dec 31, 2026 (FY26) revenue. 'Post-acquisition, CLMT's industrial and logistics exposure will rise from 2.8% to 7.9% of assets under management, which is expected to contribute around 9% of FY26 net property income,' it said. 'We expect its retail assets to remain resilient with mid-to-high single-digit range rental reversion and steady occupancy for its ex-Klang Valley malls. 'Despite short-term dilution, longer-term earnings visibility, diversification and improved gearing, support our positive view,' it added. TA Research said the placement would support the REIT's continued diversification into logistics and industrial assets in which more stable and recurring income can be expected. 'We are positive on CLMT's proposed placement, which reflects a proactive and forward-looking approach to strengthening its capital base while preserving balance sheet flexibility,' the research house said. It has reiterated a 'buy' call on the stock with an unchanged target price of 82 sen. It pointed out that while there would be some near-term dilution to earnings per unit, the longer-term benefits from improved gearing, enhanced portfolio mix and rising rental contributions from logistics assets outweigh the short-term impact.
The Star
04-06-2025
- Business
- The Star
Kompleks Arena Seremban to open soon
Strategic push: Datuk Seri Lee Tian Hock (right) and Datin Seri Yong Chou Lian posing with the official mascot of Kompleks Arena Seremban during the press conference for Sinaran Karisma, ahead of its grand launch on June 28, 2025. PETALING JAYA: Kompleks Arena Seremban, a RM250mil integrated development in the heart of Seremban, aims to position itself as a multi-functional urban and community hub. Developed by Karisma Perwira Sdn Bhd, a subsidiary of Lee Tian Hock Chou Lian (L) Foundation, the project will be officially launched and open on June 28, 2025. Spanning 4.45 acres with 650,000 sq ft of built-up space, the complex brings together hospitality, retail, residential, office and event facilities in a single location. It is also designed to host a variety of activities ranging from business functions and sporting events to cultural showcases and community programmes. According to the developer, Kompleks Arena Seremban is intended to support a variety of events such as corporate launches, sports tournaments, cultural programmes and community gatherings. The project adds to the growing number of integrated developments outside major urban centres, particularly in state capitals. 'With strong infrastructure, strategic location, and purpose-built design, the complex aims to attract a broad spectrum of stakeholders – from event organisers and corporate clients to families and tourists,' it said in a statement. The complex includes five core components, namely, Karisma Arena, a seven-storey indoor stadium with a 3,000-seat capacity, which opens ahead of the main launch on June 8, 2025. The Arena Premier Hotel, already in operation, offers 99 rooms along with function halls and F&B facilities. Menara Karisma adds commercial office space, while Arena Square offers retail and dining options across 10 shop units. The residential component, Arena Residences, comprises a 20-storey serviced apartment tower scheduled for completion by end-2025. The launch will be officiated by Negri Sembilan Mentri Besar Datuk Seri Aminuddin Harun. Ticketing for the public opening is available via Ticket2U starting June 8, 2025.
