News in Brief: Oct 28, 2021

PAVILION REIT has announced total gross revenue of RM113.3 million for the third quarter (Q3) ended Sept 30, 2021, a decrease of RM5.4 million, or 4.5 per cent, compared to the same quarter in the preceding year. 

The decrease is mainly attributed to lower rent and advertising income stemming from the various movement control orders (MCOs) due to the COVID-19 pandemic.

"Total property operating expenses were higher by RM8 million, or 13.8 per cent, compared to the same quarter of the preceding year, mainly due to the rent rebates extended to tenants not allowed to operate during the MCO period,” it said in a statement. "However, this was mitigated by utility savings, lower property upkeep cost and lower marketing expenses. This resulted in net property income reducing by RM13.4 million, or 22.0 per cent, in Q3 2021 compared to Q3 in 2020," it said. 

-- BERNAMA

DOMINANT ENTERPRISE BHD's wholly-owned subsidiary Wira Land Development Sdn Bhd has entered into a conditional sale and purchase agreement with Senai Airport City Sdn Bhd for the purchase of freehold land measuring 4.12 hectares for RM21.19 million.

The land is located within the development known as Senai Airport City in Johor.

"The acquisition is part of Dominant group’s ongoing strategy to purchase suitable properties to further expand the group’s business particularly in the construction of warehousing facilities for lease/rent to cater to Senai Airport City’s multinational companies operating in the Free Industrial Zone," it told Bursa Malaysia.

-- BERNAMA

YINSON HOLDINGS BHD recently received the ISO 37001 certification from the international certification body Bureau Veritas in recognition for its robust Anti-Bribery Management System (ABMS). 

The company said the certification audits, which were undertaken by Yinson’s global headquarters in Malaysia and project headquarters in Singapore, yielded “zero non-conformities.” 

"This certification will have a positive ripple effect, influencing all stakeholders to raise their standards relating to Anti-Bribery Anti-Corruption due diligence when dealing with Yinson," said the group's chief executive officer Lim Chern Yuan in a statement.

-- BERNAMA

EP MANUFACTURING BHD (EPMB) has announced the appointment of two directors to its board as it seeks to undertake a new business agenda to turn around the prospects of the company.

In a statement, the automotive and engineering company said the two new directors are independent non-executive director Derek Cheng Sheng and executive director Mac Ho Kok Wei.

"The group’s vision for the near future is to seek better levels of efficiency and profitability by keeping up with technology-driven trends. 

"New opportunities in the automotive industry are on the cards as EPMB already has the necessary building blocks and infrastructures," said executive chairman, Hamidon Abdullah.

-- BERNAMA

GATEWAY@KLIA2, the shopping mall at Kuala Lumpur International Airport 2 (klia2) will be having its year-end “Giler Sale” with discounts of up to 90 per cent across varieties of brands and goods from mall and airport retailers from Nov 3, 2021 to Jan 30, 2022. 

In a statement, it said KLIA Ekspres will also offer discounts of up to 40 per cent on ERL train fares for shoppers to make their way to gateway@klia2 for the special kick-off of the 5-day Insane Deals from Nov 3 to 7, 2021.

WCT Malls Management Sdn Bhd chief executive officer Selena Chua said shoppers can look forward to its first-ever Giler Sale event and benefit from the huge discounts and attractive shopping rewards available during the three-month period. 

-- BERNAMA