KUALA LUMPUR: IGB Real Estate Investment Trust (REIT) and IGB Commercial REIT have announced that Datuk Seri Robert Tan Chung Meng will succeed Tan Sri Lin See Yan as non-executive chairman of the board, effective Jan 1, 2024.
ALOR SETAR: PKR secretary-general Saifuddin Nasution Ismail is urging the Malaysian Anti-Corruption Commission (MACC) and police to investigate Kedah Land and Mines Office for an alleged cover-up related to rare earth element (REE) theft case in Bukit Enggang.
Here is a brief recap of some corporate announcements that made the news on Friday (Nov 25) involving Infomina Bhd, Genting Malaysia Bhd, Petronas Chemicals Group Bhd, Axiata Group Bhd, Sunway Bhd, Affin Bank Bhd, Dagang NeXchange Bhd, IOI Corp Bhd, Sarawak Oil Palms Bhd, Uchi Technologies Bhd, Bintulu Port Holdings Bhd, IJM Corp Bhd, Chin Hin Group Bhd, OM Holdings Ltd, Bintai Kinden Corp Bhd, Tenaga Nasional Bhd and IGB Bhd.
KUALA LUMPUR (July 3): Yesterday, IGB Commercial Real Estate Investment Trust (REIT) announced that its proposed listing on July 30 will now be delayed to Sept 20 as investor sentiment was battered by the prolonged lockdown in the country.
The REIT is also proposing to downsize its institutional offering to a minimum of 130 million units from an earlier planned 282 million units, which will lower the minimum public unitholding spread to 20% from 25%.
Nonetheless, with an expected market capitalisation of RM2.31 billion upon listing, it is set to be the largest stand-alone office REIT as well as the sixth-largest REIT on Bursa Malaysia.
Can the initial public offering (IPO) draw investor interest? The REIT projects a distribution yield of 3.9% for 2021, improving to 5% for 2022.