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Penang LRT rolling stock contractor to be appointed by year-end, says Loke

Penang LRT rolling stock contractor to be appointed by year-end, says Loke

news

Updated:
  • An open tender for the second civil works package of the Penang LRT will launch soon.
  • The project is on schedule, with land acquisition for 270 lots ongoing and physical works underway.
  • The total cost projection for the LRT has increased to between RM16 billion and RM17 billion.
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EPF abstained from voting on Sunway's takeover offer for IJM

EPF abstained from voting on Sunway's takeover offer for IJM

news

Updated:
  • The Employees Provident Fund (EPF) abstained from voting on Sunway Bhd's takeover offer for IJM Corp.
  • Sunway's offer of RM3.15 per share was deemed unfair by M&A Securities, suggesting a significant discount.
  • IJM shares rose 5.06% to RM2.49, while Sunway's shares increased by 1.53% to RM5.31.
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Sunway says MACC has cleared it of wrongdoing in IJM takeover deal

Sunway says MACC has cleared it of wrongdoing in IJM takeover deal

news

Updated:
  • Sunway Bhd has been cleared by the MACC regarding its takeover offer for IJM Corporation Bhd.
  • Founder Tan Sri Dr Jeffrey Cheah announced the clearance, assuring shareholders of the deal's merits.
  • The MACC's investigation focused on potential corruption and governance violations linked to the acquisition.
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Tan Chong completes RM148.8m Jalan Putra land disposal in Kuala Lumpur

Tan Chong completes RM148.8m Jalan Putra land disposal in Kuala Lumpur

news

Updated:
  • Tan Chong Motor has completed the RM148.8 million sale of nine land plots, strengthening its liquidity.
  • The buyer was Solid Interest Sdn Bhd (a subsidiary under the Avaland Holdings umbrella).
  • Consolidated site may offer flexibility for future higher-density development given its location and scale.
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REHDA Institute’s UK study tour engages London mayor’s office and Foster + Partners on housing, regeneration and future city models

REHDA Institute’s UK study tour engages London mayor’s office and Foster + Partners on housing, regeneration and future city models

news

Updated:
  • REHDA Institute's AREL Study Tour in the UK aims to enhance Malaysia's real estate knowledge.
  • The delegation, led by industry leaders, focuses on urban regeneration and housing strategies.
  • Insights gained from London’s mayor's office and Gamuda Land's PBSA project.
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Exsim Hospitality seeks to diversify into construction, procurement businesses

Exsim Hospitality seeks to diversify into construction, procurement businesses

news

Updated:
  • Exsim Hospitality Bhd seeks shareholder approval to diversify into construction and procurement activities.
  • The proposed expansion includes general contracting and centralised sourcing of materials.
  • Shareholder approval is required for the diversifications and a new mandate for related party transactions.
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GuocoLand to table privatisation proposal at EGM

GuocoLand to table privatisation proposal at EGM

news

Updated:
  • GuocoLand (Malaysia) Bhd will hold an extraordinary general meeting to discuss privatisation.
  • The proposal involves a capital reduction at RM1.10 per share, affecting 34.97% of shareholders.
  • GLLM plans to delist GuocoLand Malaysia after the privatisation, currently holding 65.03% of shares.
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Axis REIT and Ann Joo mutually terminate Penang industrial property acquisition on unsatisfactory due diligence findings

Axis REIT and Ann Joo mutually terminate Penang industrial property acquisition on unsatisfactory due diligence findings

news

Updated:
  • Axis REIT has terminated the RM800 million acquisition of a property from Ann Joo Steel.
  • Both parties agreed to end the deal without any claims against each other.
  • The acquisition was initially announced in November 2025, involving a lease-back arrangement.
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Malaysia not immune to housing affordability pressures, shifting to targeted reforms — minister

Malaysia not immune to housing affordability pressures, shifting to targeted reforms — minister

news

Updated:
  • Malaysia faces rising housing affordability issues despite a high homeownership rate of 76.5%.
  • Shifting to targeted housing reforms, focusing on long-term liveability and local income benchmarks.
  • Collaboration with global institutions aims to attract talent and address affordability challenges.
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Binastra Corp's 4Q net profit jumps 70% to RM42m amid higher number of projects

Binastra Corp's 4Q net profit jumps 70% to RM42m amid higher number of projects

news

Updated:
  • Binastra Corp Bhd's 4Q net profit climbed nearly 70% to RM42.4 million.
  • Revenue for the quarter rose 77% to RM477.2 million from RM270.2 million.
  • The group plans to sustain growth by efficiently executing its order book and exploring new opportunities.
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