Recently, there has been a reshuffling where Axis has named Nabhesh Khanna as chief executive officer Nabhesh is an Indian national who had over 18 years of experience, including two years of production experience in industrial products in multinational companies. Meanwhile, Managing director Datuk Dr Aw Yuan Meng had been redesignated vice-chairman

Mah Sing Group Bhd has been named “Best Developer” in the Euromoney Real Estate Awards 2009 organised by Euromoney Liquid Real Estate magazine.The award canvasses the opinions of real estate developers, advisors, financial institutions, investors and end-users worldwide. Mah Sing group managing director and chief executive Tan Sri Leong Hoy Kum said in a statement [...]

Among the potential REITs that may list on Bursa Malaysia next year are Sunway City Bhd’s (SunCity) REIT and Singapore‘s CapitaLand Ltd REIT. (Currently, Malaysia has 13 REITs listed on Bursa Malaysia with an estimated market capitalisation of RM4.1 billion as at January 2009.) According to REITs experts, the present high yields of #9% of [...]

Trading firm Itochu Corp plans to buy Nippon Residential Investment Corp and merge it with its own real estate investment trust to make the fourth-largest listed REITItochu plans to combine Nippon Residential with its REIT, Advance Residence Investment Corp, to improve investment efficiency. The deal would be the first merger of REITs in Japan, which [...]

Am ARA REIT Managers Sdn Bhd , property Manager announced the financial performance of  its AmFIRST Real Estate Investment Trust (AmFIRST):- ·          Posted revenue of RM23.65 million for the first quarter ended 30 June 2009, a 5 per cent increase from RM22.52 million registered in the previous corresponding quarter. Net property income for the period [...]

CEO, Liew Mun Leong of  CapitaLand,Southeast Asia‘s largest property developer CapitaLand announced that the company is to:- deploy S$1 billion of S$1.8 billion (S$1 = RM2.44) in capital raised from a recent rights issue to its businesses in China, Vietnam and the Ascott Group. S$500 million of the S$1 billion will go to its China [...]

Commerce International Merchant Bankers Bhd(CIMB) failed in its second attempt to recover its loan to Metroplex Bhd by auctioning the company’s property. Details: Auctioned property: Putra Place, which houses The Mall shopping complex, the five-star Legend Hotel and an office tower. Its reserve price was set at RM634.5 million.  The Mall comprises eight levels of [...]