Penang MACC to call up more individuals over alleged zakat-funded land purchase

Penang MACC to call up more individuals over alleged zakat-funded land purchase

news

Updated:
  • The MACC will call more individuals for statements in a power abuse case.
  • The investigation involves a senior state official's land purchase using zakat funds.
  • The state government will give space to the MACC's probe and not interfere with it.
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Appellate court dismisses developer’s losses appeal over West Coast Expressway land acquisition

Appellate court dismisses developer’s losses appeal over West Coast Expressway land acquisition

news

Updated:
  • The Court of Appeal dismissed See Hee Yang's appeal for loss of profit after land acquisition for WCE.
  • The judge ruled that the developer's claim did not constitute "injurious affection".
  • The court upheld the compensation awarded and ordered the developer to pay costs to the respondents.
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Sarawak Consolidated Industries cancels financing facilities after reassessing funding needs post-divestment

Sarawak Consolidated Industries cancels financing facilities after reassessing funding needs post-divestment

news

Updated:
  • Sarawak Consolidated Industries Bhd has canceled RM49 million financing facilities after selling SCM.
  • The cancellation follows a RM113 million divestment deal with YTL Cement, enhancing SCIB's financial position.
  • Executive chairman Datuk Chong Loong Men stated this decision reflects prudent financial management.
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AME Elite wins RM214m job to build test cell facility for KLIA Aeropolis

AME Elite wins RM214m job to build test cell facility for KLIA Aeropolis

news

Updated:
  • AME Elite Consortium Bhd secured a RM214.1 million contract for a test cell facility in Sepang.
  • The project aims to meet high safety standards and is expected to complete in 12 months.
  • This win boosts AME Elite's earnings and reflects its ability to deliver with precision and speed.
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Glomac appoints third-generation as executive director

Glomac appoints third-generation as executive director

news

Updated:
  • Glomac Bhd has appointed FD Idzham as a group executive director, marking the entry of the third generation.
  • At 28, he is the grandson of the founder and has a strong background in finance and property development.
  • His appointment aims to enhance Glomac's leadership and support sustainable growth strategies.
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Billionaire Quek Leng Chan to privatise GuocoLand at RM1.10 per share via selective capital repayment

Billionaire Quek Leng Chan to privatise GuocoLand at RM1.10 per share via selective capital repayment

news

Updated:
  • GuocoLand (Malaysia) Bhd's controlling shareholder has proposed to privatise the company at RM1.10 per share.
  • The plan involves a capital repayment of RM269.45 million to entitled shareholders.
  • GLLM aims to delist GuocoLand Malaysia, citing low trading liquidity and minimal benefits of remaining listed.
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Hannah Yeoh orders DBKL to tighten SOPs to prevent graft

Hannah Yeoh orders DBKL to tighten SOPs to prevent graft

news

Updated:
  • DBKL must address SOP weaknesses to prevent corruption, as highlighted by Minister Hannah Yeoh.
  • A review by MACC revealed outdated management practices and unclear procedures for licences.
  • Improvements will be made public to ensure transparency and encourage the public to avoid corrupt practices.
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Sentoria goes to court to cancel OCBC bank guarantees, files RM679 mil claim

Sentoria goes to court to cancel OCBC bank guarantees, files RM679 mil claim

news

Updated:
  • Sentoria Group Bhd has filed a writ against OCBC Bank to nullify corporate guarantees for its subsidiaries.
  • The company seeks a court declaration that the guarantees are unenforceable and demands RM679 million in damages.
  • Sentoria has been loss-making since FY2019 and is under receivership, with a deadline extension to submit a regularisation plan.
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Builder-turned-blogger Koon Yew Yin passes away

Builder-turned-blogger Koon Yew Yin passes away

news

Updated:
  • Koon Yew Yin, co-founder of Malaysia's largest construction firms, passed away at 93.
  • He transitioned from engineering to investing after retiring in 1983, becoming a notable blogger on market trends.
  • In 1967, he established Mudajaya Construction Sdn Bhd and Gamuda Sdn Bhd together with three partners.
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IJM gets one-month extension to submit independent circular on Sunway's takeover bid

IJM gets one-month extension to submit independent circular on Sunway's takeover bid

news

Updated:
  • IJM Corp Bhd received approval to extend its draft independent advice circular submission deadline to March 5, 2026.
  • Sunway Bhd's takeover offer values IJM at RM11 billion, contingent on securing over 50% ownership.
  • A number of companies and consortiums are also considering competing against Sunway and submitting their own.
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