IJM hits four-month high on acquisition by Sunway

IJM hits four-month high on acquisition by Sunway

news

Updated:
  • Analysts recommend IJM shareholders accept Sunway's fair voluntary takeover offer, valuing IJM at RM11 billion.
  • The deal includes cash and shares, providing long-term benefits and strategic synergies for the combined entity.
  • Sunway plans to consolidate operations post-acquisition, potentially enhancing earnings visibility for IJM.
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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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Bursa approves Perak Corp’s regularisation plan to lift PN17 status

Bursa approves Perak Corp’s regularisation plan to lift PN17 status

news

Updated:
  • Perak Corp's regularisation plan includes capital reduction, land sales, and debt restructuring.
  • Bursa Malaysia approved the plan, allowing the company to improve its financial status.
  • The plan involves joint ventures, land sales, and issuing preference shares to settle debts.
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Alliance Bank unveils new 24-floor office suite on Jalan Ampang

Alliance Bank unveils new 24-floor office suite on Jalan Ampang

news

Updated:
  • Alliance Bank Malaysia Bhd launched its new 24-floor office, Menara Alliance Bank, in Kuala Lumpur.
  • The move symbolizes the bank's growth and commitment to sustainability under its Acceler8 2027 strategy.
  • Alliance Bank group CEO Kellee Kam said the new HQ was designed as a unified and collaborative space.
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Iconic Group opens Marriott-branded hotel in Penang ahead of Visit Malaysia 2026

Iconic Group opens Marriott-branded hotel in Penang ahead of Visit Malaysia 2026

news

Updated:
  • Iconic Penang Sdn Bhd has launched the Iconic Marjorie Penang, a five-star hotel in Bayan Lepas.
  • The hotel features 298 rooms and modern amenities, celebrating Penang’s Baba-Nyonya heritage.
  • This opening aims to boost Penang's tourism ahead of the Visit Malaysia 2026 campaign.
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Property developer JRK Holdings seeks ACE Market listing

Property developer JRK Holdings seeks ACE Market listing

news

Updated:
  • JRK Holdings Bhd plans to list on the ACE Market to raise funds for working capital and expansion.
  • The IPO will issue 48.16 million shares to the public, with no existing shares for sale.
  • JRK has completed three projects, which are JRK Senesta, JRK Convena and JRK Delta.
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KL Architecture Festival 2026 kicks off, design contests open to public

KL Architecture Festival 2026 kicks off, design contests open to public

news

Updated:
  • The Kuala Lumpur Architecture Festival (KLAF) 2026 has launched with the theme Future Culture.
  • It features various design competitions open to the public, promoting community engagement.
  • The Future Culture theme reflects the idea that design must consider history, memory and people.
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