Latest news with #RM105mil
The Star
26-05-2025
- Business
- The Star
Titijaya acquires residential property assets in Sabah for RM105mil
Titijaya Land Bhd managing director Datuk Lim Poh Yit PETALING JAYA: Titijaya Land Bhd is proposing to acquire two property assets in Kota Kinabalu, Sabah, for RM105mil. In a statement, the urban lifestyle developer said the first proposed acquisition, for RM99mil, involves the purchase of a parcel of land with foundation works fully completed and two blocks of 19-storey purpose-built student accommodation buildings comprising 513 apartment-style units. Together, the apartment blocks have a total capacity to accommodate 3,078 students. 'Following the acquisition, Titijaya intends to operate the completed buildings and complete the remaining project works, tapping into the existing and rising demand for student and housing accommodation in the surrounding area.' The second proposed acquisition, for RM6mil, involves a parcel of land with an existing building structure originally intended for the Bangunan Koperasi UMS project, launched in 2012. 'The original development plan would have seen the construction of a 14-storey apartment building with 476 apartment units, a one-storey shop lot with 38 units, and a three-storey car park podium. 'However, the project has not been completed and has since been abandoned. Following the acquisition, the group intends to resume the project to develop new residential properties. Both parcels of land sit side-by-side and are located adjacent to Universiti Malaysia Sabah (UMS) and the upcoming Hospital UMS, which is slated to commence operations in 2026. Titijaya managing director Datuk Lim Poh Yit said the acquisition marked the next chapter in the group's foray into Sabah. He said the acquisition aligned with Titijaya's ESG and sustainability goals by increasing the availability of quality accommodation for public university students and reviving an abandoned housing project for public and social good. 'Furthermore, repurposing the existing building, following the completion of remaining works, will result in significantly lower carbon emissions compared to constructing an entirely new one. 'This move also aligns with our broader growth strategy to diversify our revenue streams and customer base, and extend our footprint beyond the Klang Valley,' Lim said.
The Star
23-04-2025
- Business
- The Star
FBM KLCI tops 1,500 mark as sentiment lifts across Asia
KUALA LUMPUR: The FBM KLCI closed above the psychological 1,500-point level on Wednesday, tracking upbeat sentiment across regional markets amid encouraging external cues. The upbeat mood followed U.S. President Donald Trump's remarks, easing market concerns, as he assured that he does not intend to fire Federal Reserve Chair Jerome Powell and that tariffs on China will be "nowhere near" the current 145%. At 5pm, the FBM KLCI rose 14.94 points, or 1.01%, to 1,501.19 — its intraday high and the highest level in over two weeks. The index touched an intraday low of 1,493.26. All indices ended higher, except the Bursa Malaysia Plantation Index. Market breadth was positive with 716 securities ending in the green versus 264 that closed weaker. Trading volume stood at almost three billion units worth RM2.1bil. Malaysian Pacific Industries , the biggest gainer on Bursa Malaysia, jumped 80 sen to RM15.64, PPB Group added 32 sen to RM12.02, PETRONAS Chemicals gained 22 sen to RM3.30 and SAM Engineering climbed 22 sen to RM3.52. Among the decliners, Ideal Capital slid 20 sen to RM3.80, United Plantations lost 14 sen to RM22.84, Heineken fell 14 sen to RM26.22 and Oriental declined 13 sen to RM6.94. In terms of fund flows, foreign investors offloaded RM105mil worth of equities on Tuesday, while local institutions and retailers emerged as net buyers at RM40mil and RM65mil respectively. Meanwhile, the ringgit was quoted at 4.3968 against the US dollar, down 0.22%, while it gained 0.21% to 3.3522 against the Singapore dollar. Around the region, MSCI's Asia ex-Japan stock index was higher by 1.97%. Japan's Nikkei 225 rose 1.89% to 34,868.63 while South Korea's Kospi closed up 1.57% at 2,525.56. Hong Kong's Hang Seng Index added 2.37% to 22,072.62. China's CSI 300 Index rose 0.08% to 3,786.88 while the Shanghai Composite Index fell 0.1% to 3,296.36.
