Property

Axis Real Estate Investment Trust is acquiring an industrial property in Shah Alam for RM38 million in cash in a related-party transaction. In a Bursa Malaysia filing on Wednesday, trustee RHB Trustees Bhd said it had entered into a sale and purchase agreement with Rubicon Assets Sdn Bhd for the leasehold property. The deal is classified as a related-party transaction as Rubicon Assets director and major shareholder Stephen Tew Peng Hwee @ Teoh Peng Hwee is also the non-independent non-executive deputy chairman of Axis REIT Managers Bhd. The property comprises a single-storey detached factory with an integrated double-storey office block and a four-storey factory and storage block, with a net lettable area of about 120,177 sq ft. Axis REIT said the asset is fully leased to three tenants — OCK Telco Infra Sdn Bhd, Tamura Electronics (M) Sdn Bhd and Seng Hup Lightings & Decor Sdn Bhd — generating combined monthly rental income of RM210,476.75. The REIT said the acquisition is expected to be earnings-accretive, supported by stable recurring rental income, and will strengthen long-term portfolio returns. The purchase will be funded via existing bank financing, with Axis REIT’s gearing expected to rise to 32.84%, still within the regulatory limit of 50%. The acquisition is expected to be completed in the second half of 2026. Axis REIT units closed three sen higher at RM2.01 on Wednesday, giving the REIT a market capitalisation of RM4.07 billion.

Tanco Holdings Bhd is entering the concrete products manufacturing business through a joint venture with Hong Kong-based King Well Holdings Ltd (KWHL). In a Bursa Malaysia filing on Monday, Tanco said its indirect wholly-owned subsidiary, Tanco Precast Industries Sdn Bhd, signed a joint venture and shareholders agreement with KWHL to manufacture, supply and sell concrete-related products in Malaysia. Under the agreement, a new joint venture company will be formed, with Tanco holding a 51% stake and KWHL owning the remaining 49%. KWHL is a Hong Kong-incorporated company whose shareholders and board members have experience in the concrete manufacturing industry in China. The new venture plans to set up its first factory on land owned by Tanco and its subsidiaries, while KWHL will lead the factory setup and manufacturing operations. Tanco said the partnership will help strengthen its construction materials supply chain and support its future property development projects, while also tapping into demand for concrete products in Malaysia. The agreement is subject to feasibility assessments and approvals from relevant Malaysian authorities. Tanco shares closed one sen higher at RM1.67 on Monday, giving the group a market capitalisation of RM10.24 billion.

Parkson Retail Group Ltd has renewed the tenancy for its Shanghai Hongqiao property in China in a deal involving a right-of-use asset valued at about RMB374.5 million. In a stock exchange filing, the group said its indirect wholly-owned subsidiary, Shanghai Hongqiao Parkson Development Co Ltd, signed the renewal agreement with Shanghai Changning Real Estate Management Co Ltd. The renewed tenancy will run from July 1, 2026 to Dec 31, 2036, covering about 49,480 sq m of retail space in Shanghai’s Changning district. Under the agreement, monthly rent will be about RMB5.19 million for the first five years, rising to RMB5.34 million for the remaining term. Parkson said the transaction is classified as a very substantial acquisition under Hong Kong listing rules due to the size of the recognised right-of-use asset under IFRS 16. The company will seek shareholder approval for the deal at an extraordinary general meeting. Parkson said the Shanghai Hongqiao outlet remains strategically important due to its location in a mature commercial area and its “Urban Outlets” retail concept featuring a Korean Wave theme. The group added that the fixed-rent structure and planned upgrades are expected to improve cost visibility, support refurbishment efforts and strengthen the store’s competitiveness and customer experience.

Gamuda Bhd has secured a RM3.3 billion contract for the Kaohsiung MRT Xiaogang–Linyuan Line project in Taiwan. The contract was awarded by the Kaohsiung City Government Mass Rapid Transit Bureau. Gamuda said the project strengthens its presence in Kaohsiung, where it is already involved in several rail infrastructure developments, including the MRT Yellow Line and Orange Line projects. The contract was awarded to a joint venture between Gamuda and Taiwanese firm Shang Ting, with Gamuda holding a 70% stake, equivalent to RM2.31 billion of the total contract value. The seven-year-and-four-month project includes the construction of three underground stations, one elevated station, nearly 4km of underground twin-track railway, and six cross passages. This marks Gamuda’s 10th contract win in Taiwan since entering the market in 2002. Apart from MRT projects, Gamuda’s portfolio in Taiwan also includes marine and power transmission infrastructure works.

QEW Group Berhad has officially launched a Request for Proposal (RFP) for the development of the QEW Smart Integrated Industrial Park (QSIIP), a strategic industrial initiative positioned at the Malaysia–Thailand border in Bukit Kayu Hitam, Kedah. Developed via its wholly-owned subsidiary, QEW Smart Integrated Industrial Park Sdn. Bhd., and in collaboration with Invest Kedah Berhad, the project underscores a broader push to strengthen cross-border economic activity and regional industrial integration. Spanning approximately 258 acres, the development is strategically located within a key trade corridor and aligned with the Indonesia–Malaysia–Thailand Growth Triangle (IMT-GT) framework. The initiative is expected to serve as a catalyst for enhanced logistics connectivity, industrial expansion, and cross-border trade flows between Malaysia and its northern neighbours. The QSIIP development will be executed in two phases. The first phase comprises a 200-acre Smart Integrated Industrial Zone, designed to accommodate advanced manufacturing and industrial activities. This will be complemented by a 58-acre commercial and mixed-use component, aimed at supporting business ecosystems and ancillary services. With an estimated Gross Development Value (GDV) of approximately RM1.0 billion, the project is projected to be developed over a period of three to ten years. As part of its rollout, QEW Group has initiated an Expression of Interest (EOI) stage under the RFP process, inviting participation from qualified developers, infrastructure partners, contractors, and strategic investors. This marks the first step in assembling a consortium of stakeholders to drive the project’s development and long-term viability. EOI submissions are set to close on 4 May 2026, with a formal briefing scheduled to take place on 7 May 2026 at QEW Group Berhad’s headquarters in Putrajaya. The launch of QSIIP reflects a growing emphasis on regional connectivity, industrial modernisation, and investment-led growth, reinforcing Malaysia’s position as a strategic gateway within Southeast Asia’s evolving economic landscape. Enquiries and RFP Registration For further information or to register your interest: Corporate Finance Investment DepartmentAsfiah Zulaikha📞 017-2170727✉️ [email protected]

Avaland Bhd said it is acquiring a 7,613 sq m freehold land parcel in Taman U-Thant, Kuala Lumpur for RM86.04 million as part of its expansion into the high-end residential segment in the Klang Valley. In a Bursa Malaysia filing on Tuesday, the property developer said the land is being purchased through its wholly owned subsidiary Nexus Advertising Sdn Bhd from Tong Ah Company Sdn Bhd. The site is currently zoned for residential use and is planned for a high-rise luxury residential development with a preliminary gross development value (GDV) of about RM700 million. Avaland said the acquisition supports its long-term strategy to strengthen its presence in the Klang Valley property market, particularly in the premium housing segment. “This acquisition will further enhance the group’s presence in the luxury residential segment, building on the strong market response and success of the group’s earlier luxury developments, Aetas Damansara and Aetas Seputeh,” it said. The group added that the Taman U-Thant location, which sits within an established embassy enclave with limited new large-scale residential supply, presents a strong development opportunity. The purchase will be funded through a mix of internally generated funds and bank borrowings. The deal is expected to be completed by the first quarter of 2027. Avaland shares rose 1.5 sen or 8.33% to 19.5 sen on Tuesday, giving the group a market capitalisation of about RM284.1 million.

Property developer Tropicana Corp Bhd  is acquiring 15 land parcels covering about 24.15 acres in Langkawi, Kedah for a total of RM195.88 million. In a Bursa Malaysia filing on Tuesday, the group said its wholly owned subsidiary Tropicana Scenic Development Sdn Bhd (TSDSB) has signed two separate sale and purchase agreements for the acquisitions. Under the first deal, TSDSB will acquire 14 parcels of land in Bandar Padang Lalang, Langkawi, from Maya Elemen Sdn Bhd for RM151.1 million. The site has been identified by the Langkawi Development Authority (Lada) as part of a key agro-tourism and commercial zone. Tropicana said the land will support its strategy to expand into business-related and sustainable developments, with potential for residential and agro-tourism projects, backed by infrastructure improvements and rising tourism demand in the area. In a separate transaction, TSDSB is also acquiring a leasehold parcel in Padang Matsirat from Tanjung Mali Resort Development Sdn Bhd for RM44.8 million. The site is located near Langkawi International Airport and is intended to strengthen the group’s landbank in high-growth locations. The acquisitions will be funded through a mix of bank borrowings and internally generated funds. Barring any unforeseen circumstances, the deals are expected to be completed in the fourth quarter of 2026. Tropicana shares closed unchanged at RM1.20 on Tuesday, valuing the group at RM3.02 billion.

7-Eleven Malaysia Holdings Bhd said its 60%-owned subsidiary has proposed to acquire a 2.13-acre parcel of land in Seri Kembangan for RM19 million, where it plans to develop a food commissary facility to support its future operations. In a Bursa Malaysia filing on Tuesday, the group said the land is currently classified as freehold agricultural land and is owned by several individuals. The site is presently used for fruit cultivation. The acquisition will be carried out through QVI Foods Sdn Bhd, a subsidiary that is 60% owned by 7-Eleven Malaysia. The remaining stake is held by other shareholders. 7-Eleven said the proposed purchase will allow the group to move upstream into the food commissary segment, strengthening its supply chain capabilities and supporting longer-term expansion plans in its retail and food-related businesses. “The proposed acquisition will enable the SEM Group to venture upstream into food commissary, thereby facilitating its future expansion and operational plans,” the company said. The group added that the project is expected to enhance operational efficiency by centralising food preparation and distribution support for its network. The acquisition is expected to be completed by the second quarter of 2026, subject to fulfilment of conditions precedent and regulatory approvals. Funding for the RM19 million purchase will come from a mix of internally generated funds and bank borrowings, the company said. At market close on Tuesday, 7-Eleven Malaysia shares were unchanged at RM2, giving the group a market capitalisation of about RM2.34 billion.

SD Guthrie Bhd (KL:SDG) and Menteri Besar Selangor (Incorporation) (MBI Selangor) are exploring a strategic partnership to develop a 2,500-acre mixed-use industrial park in Sepang Estate, Selangor. The proposed project, located next to KLIA Aeropolis, is expected to generate more than 32,000 jobs by 2030, according to a statement on Tuesday. The development falls under the Integrated Development Region in South Selangor (IDRISS) and is part of the Sepang Infinity Corridor Hub under the Sepang Local Plan 2035. It will include industrial facilities such as manufacturing and logistics, supported by business spaces and training centres. Selangor Menteri Besar Datuk Seri Amirudin Shari said the collaboration reflects the state’s plan to develop a well-planned mixed-use township and industrial park that supports long-term economic growth. He said the project will leverage industry expertise and institutional strength to build smart, sustainable infrastructure with integrated aerospace capabilities. Amirudin added that it will complement the future expansion of Kuala Lumpur International Airport (KLIA) and enhance Selangor’s appeal to global investors. SD Guthrie chairman Tan Sri Nik Norzrul Thani Nik Hassan Thani said the initiative shows the group’s commitment to high-impact developments for Selangor and Malaysia. He said the project aims to create long-term value through strategic land development and industrial clustering to support the state’s economic transformation. MBI Selangor group CEO Datuk Ts Saipolyazan M Yusop said the partnership reflects the state investment arm’s focus on strategic developments that support Selangor’s long-term growth. He said the project is expected to become a key growth hub within IDRISS, strengthening the state’s aviation and industrial ecosystem due to its proximity to KLIA. This marks the second collaboration between SD Guthrie and MBI Selangor, following an earlier integrated development project in Carey Island.

Wawasan Dengkil Holdings Bhd has secured a RM22.7 million contract to build residential units in Sepang, Selangor. In a Bursa Malaysia filing on Thursday, the group said the letter of acceptance was awarded to its wholly owned subsidiary Wawasan Dengkil Sdn Bhd (WDSB) by the Selangor State Development Corporation (PKNS). Under the contract, WDSB will construct and complete 56 single-storey residential units. Construction is scheduled to begin on June 8, with completion expected by Oct 24, 2027. Wawasan Dengkil is involved in construction-related services, including earthworks and civil engineering, trading of building materials, and providing machinery and commercial vehicles for hire. The company said the contract is expected to contribute positively to its net assets per share, earnings per share, and gearing over the project duration. At the time of writing on Thursday, shares of Wawasan Dengkil were unchanged at 14.5 sen, giving the group a market capitalisation of RM78.3 million. The stock has fallen 35.6% over the past year.