Berjaya Land is buying a 75% stake in Icelandair Hotels ehf in a US$53.63mil (RM222.03mil) deal that would allow the group to enter the luxury hotel segment in Iceland.
Axis REIT is leasing 2.4975 acres of industrial land at Batu Kawan Industrial Park, Penang from Penang Development Corp (PDC) and developing it into a single-storey warehouse facility with a built-up area of 44,000 sq ft for use by Federal Express Services (M) Sdn Bhd (FedEx).
Chin Hin’s 45%-owned associate, Atlantic Blue Sdn Bhd has proposed a listing on the ACE Market of Bursa Malaysia via a special purpose vehicle, Solarvest Holdings Bhd.
Pegasus Heights said its contract as a project management consultant for a 30-storey mixed commercial development at Teluk Likas, Sabah, has been terminated.
Omesti has sold its entire stake in Formis E Solutions Sdn Bhd to CTOS Holdings Sdn Bhd for RM26.88mil cash.
Meanwhile, US stocks rose to notch a fresh record close on Monday, but the gains were muted as Wall Street remained cautious to start off the corporate earnings season.
Citigroup kicked off the earnings season by reporting second-quarter numbers that topped analyst expectations. Other big banks like J.P. Morgan Chase, Morgan Stanley, Bank of America and Goldman Sachs are expected to report quarterly earnings later this week.
Similarly, European stocks closed higher after Chinese second-quarter GDP figure meeting market expectations, whilst data for industrial production, retail sales and fixed-asset investment came in above consensus.
“The local benchmark index is expected to trend higher today in tandem with positive showings by the overnight overseas markets,” JF Apex said.
The research house said the technical indicators for FBM KLCI were negative with the RSI dropping out of the overbought zone while the MACD cut below its signal line.
“The benchmark index has been on the uptrend since May after rebounding from a low of 1,570 points. After this month’s surge, the FBM KLCI tested the 200-day moving average.
“The recent decline saw the index dropped out of the uptrend channel and could trend sideways below the resistance of 1,730 points,” it said.
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