KIP Real Estate Investment Trust (KIP-REIT) is proactively exploring opportunities for acquisitions, both in the retail and industrial sectors in its efforts to grow its asset base, says TA Research. The research firm said the expansion of its industrial asset base with long-term tenancies and stable returns will continue to exhibit robust performance for the group. (TheStar)

Under fire Pharmaniaga Bhd has clarified that the government is not solely dependent on the group as all measures are taken to ensure a diversified supply chain to avoid overreliance on a single company. In a statement on Friday (April 21), the pharmaceutical group said the Ministry of Health (MOH) spent approximately 35% of its pharmaceutical spending via Pharmaniaga, with the group’s role limited to managing the logistics and distribution of the products, as well as holding the drug stockpile in the tune of RM400 million as of Dec 31, 2022. (TheEdge)

Sunview’s Group Bhd has notified Bursa Malaysia that Basil Power Sdn Bhd and Stellar One Sdn Bhd have ceased to be substantial shareholders of the group after reducing their stakes via off market deals. Basil disposed of a 9.02% stake in Sunview through the sale of 17.22 million shares on Tuesday and 25 million shares on Wednesday. Basil, whose ultimate shareholder is the Asia Greentech Fund, is left with a stake of 2.56% in the renewable energy group. (TheEdge)

Jiankun International Bhd said the notice of demand for RM12.98 million that its wholly owned JKI Development Sdn Bhd (JKID) received last December from its joint venture partner has been declared "an abuse of court's process" by the court here. The JV partner is Fivestar Development (Puchong) Sdn Bhd, who issued the notice in relation to a residential development in Petaling, Selangor, that the entities were jointly developing. (TheEdge)​

Property developer OCR Group Bhd has maintained that there is no operational impact on the group arising from the lawsuit filed by a former contractor over alleged payment default of RM30.93 million in relation to projects in Kuantan and Petaling Jaya. The claims by the ex-contractor, Kencana Amanjaya Sdn Bhd, are baseless and frivolous, said OCR in a statement on Thursday (April 20), adding that it has instructed its solicitors to contest the matter to fully defend its interest. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 21 Apr 2023

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