IGB disposes of St Giles Hotel London and shares in Ravencroft Investment for £220 million

IGB disposes of St Giles Hotel London and shares in Ravencroft Investment for £220 million

news

Updated:
  • IGB Bhd's associates sold UK assets, including St Giles Hotel London, for £220 million.
  • The transactions were finalized on January 9, 2026, with IGB's share of net gains at RM452.6 million.
  • Trading of IGB shares was suspended but will resume at 10am on Monday.
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April trial dates maintained by High Court for Semantan Estate’s damages from 1956

April trial dates maintained by High Court for Semantan Estate’s damages from 1956

news

Updated:
  • The High Court has upheld the April hearing dates for Semantan Estate's compensation case.
  • Semantan Estate's request for adjournment was denied due to the govt's readiness and potential interest costs.
  • The court emphasized the need to resolve the matter promptly, maintaining deadlines for filing and hearings.
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Govt backbencher urges swift tabling of Residential Tenancy Act as more Malaysians turn to renting

Govt backbencher urges swift tabling of Residential Tenancy Act as more Malaysians turn to renting

news

Updated:
  • A government backbencher urged for the swift tabling of the Residential Tenancy Act..
  • He emphasized the need for tenant protection to prevent unjustified and sudden rent hikes.
  • Many young Malaysians, particularly in urban areas, are choosing to rent as they prioritise flexibility.
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IJM rejects money-laundering, UK probe allegations amid MACC inquiry

IJM rejects money-laundering, UK probe allegations amid MACC inquiry

news

Updated:
  • IJM Corp Bhd denied money laundering allegations and claims of a UK investigation.
  • The company stated it has not been approached by the UK's Serious Fraud Office regarding these matters.
  • Group chairman Tan Sri Krishnan Tan met officers from the MACC. Operations remain unaffected
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Arika Kubang Kerian set to be Kelantan’s tallest building, completion on track for 4Q2026

Arika Kubang Kerian set to be Kelantan’s tallest building, completion on track for 4Q2026

news

Updated:
  • The Arika Kubang Kerian development in Kota Bharu will be Kelantan's tallest building, finishing by 2026.
  • It features modern design, sustainability, and over 45 facilities, targeting quality certifications.
  • With 70% of units sold, it caters to educational and medical sectors, ensuring stable investment.
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KPKT ready to re-table Urban Renewal Bill 2025 for second reading—Nga

KPKT ready to re-table Urban Renewal Bill 2025 for second reading—Nga

news

Updated:
  • KPKT is ready to re-table the Urban Renewal Bill for its second reading.
  • Concerns from MPs led to the postponement of the bill's previous reading scheduled for August.
  • Additionally, over 340 arrests have been made under the new Community Service Order for littering enforcement.
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SST on raw materials like steel scrap weakens industry competitiveness, Misif says as grace period ends

SST on raw materials like steel scrap weakens industry competitiveness, Misif says as grace period ends

news

Updated:
  • The Malaysian Iron and Steel Industry Federation (Misif) opposes the SST on primary steelmaking materials.
  • They argue it raises costs and weakens local competitiveness against imported steel.
  • Misif calls for the removal of SST on these materials to support the industry and national objectives.
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YTL Cement trims 5.95% stake in Malayan Cement, confirms The Edge report

YTL Cement trims 5.95% stake in Malayan Cement, confirms The Edge report

news

Updated:
  • YTL Cement Bhd sold 82.41 million shares of Malayan Cement, reducing its stake to 59.25%.
  • The shares were reportedly sold at RM7.55 each, reflecting a discount to average prices.
  • Malayan Cement's public float is expected to increase, currently at around 29%.
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IJM shares slide following anti-graft probe

IJM shares slide following anti-graft probe

news

Updated:
  • IJM Corporation's shares fell after a MACC investigation was confirmed, dropping 5.7% to RM2.50.
  • Sunway Bhd's acquisition offer of RM3.15 per IJM share is below analysts' target prices.
  • Despite this, some analysts suggest accepting the offer for long-term benefits in the combined entity.
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IJM says MACC, IRB officials visited its office to gather info; Azam Baki confirms probe

IJM says MACC, IRB officials visited its office to gather info; Azam Baki confirms probe

news

Updated:
  • Sunway plans to acquire IJM, offering 31.5 sen per share and 501 Sunway shares for every 1,000 IJM shares.
  • IJM's shares fell 5.7% after MACC and IRB visited for an investigation, prompting short-selling suspensions.
  • Analysts suggest accepting Sunway's offer despite it being below target prices, as it provides long-term value.
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