New Acquisitions Boosted Sunway Reit’s Distribution Per Unit in Fy2018

 |  Friday, 10 August 2018 12:12  |  Published in CORPORATE

Sunway REIT has delivered a set of commendable financial results for the financial year ended 30 June 2018. Revenue rose 7.2% year-on-year (y-o-y), from RM522.9 million in FY2017 to RM560.4 million in FY2018, underpinned by retail segment and new income contribution from newly completed acquisitions.

Net property income (NPI) expanded by 8.0% y-o-y to RM419.9 million. The topline growth was partially offset by higher interest cost during the year on the back of debt drawn down to fund acquisitions and capital expenditure.

Kumpulan Perangsang Selangor 30%-associate accepts Air Selangor takeover offer for SPLASH

 |  Friday, 10 August 2018 12:11  |  Published in CORPORATE

Diversified group Kumpulan Perangsang Selangor yesterday announced that its 30% associate company Syarikat Pengeluar Air Selangor Holdings Berhad (“SPLASH Holdings”) has accepted a takeover offer from Pengurusan Air Selangor Sdn Bhd (“Air Selangor”) to acquire 100% equity interest of Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (“SPLASH”).

The proposed takeover, announced on 3 August 2018, entails Air Selangor acquiring from SPLASH Holdings the entire 50 million ordinary shares and 350 million redeemable unsecured loan stocks (“RULS”) of SPLASH for a total purchase consideration of RM2.55 billion.

Malaysia’s Petronas delivers first LNG cargo to Japan’s Hokkaido Electric

 |  Friday, 03 August 2018 10:14  |  Published in CORPORATE

Petronas delivered its first liquefied natural gas (LNG) cargo through its subsidiary to Japan’s Hokkaido Electric Power Co Inc (Hokkaido Electric).

This delivery marks the beginning of MLNG’ s supply to Hokkaido Electric via a 10-year Sale and Purchase Agreement (SPA) signed on March 2, 2017.

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