Sunway's ongoing takeover offer for IJM under MACC investigation, says Azam Baki

Sunway's ongoing takeover offer for IJM under MACC investigation, says Azam Baki

news

Updated:
  • Malaysia's anti-graft agency is investigating Sunway Bhd's takeover offer for IJM Corp Bhd.
  • The Malaysian Anti-Corruption Commission is concerned about potential corruption involving public funds.
  • Additionally, two other investigation papers on IJM are open, including one related to bribery.
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Mah Sing opens M Aurora sales gallery, 96% of Tower B Phase 1A taken

Mah Sing opens M Aurora sales gallery, 96% of Tower B Phase 1A taken

news

Updated:
  • Mah Sing Group Bhd has launched the M Aurora sales gallery in Old Klang Road.
  • The initial Tower B Phase 1A recorded a 96% take-up rate.
  • Tan Sri Leong Hoy Kum said said Old Klang Road was chosen because location is always the key focus.
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Tropicana narrows FY2025 loss to RM15.5m as revenue rises 6% to RM1.5b; balance sheet strengthens

Tropicana narrows FY2025 loss to RM15.5m as revenue rises 6% to RM1.5b; balance sheet strengthens

news

Updated:
  • Tropicana Corp Bhd reported RM1.5 billion revenue for FY2025, a 6% increase from FY2024.
  • It narrowed loss before tax to RM15.5 million, aided by lower finance costs and operational improvements.
  • Tropicana aims for growth in 2026, focusing on asset-light strategies and ongoing developments.
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Contractors, material firms face cost pressures amid Middle East conflict, CIMB Securities flags

Contractors, material firms face cost pressures amid Middle East conflict, CIMB Securities flags

news

Updated:
  • Contractors face margin pressure from rising costs due to Middle East conflicts, says CIMB Securities.
  • The firm downgraded its FBM KLCI target to 1,754 points, reflecting a more defensive stance.
  • CIMB added defensive stocks to its top picks while downgrading some sectors to 'neutral'.
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TA Global launches Tower B of Amaya Residences

TA Global launches Tower B of Amaya Residences

news

Updated:
  • TA Global Bhd launched Tower B of Amaya Residences on March 1, with an 80% take-up for Tower A.
  • The development features two 68-storey towers, with Tower B offering 634 units and family-oriented amenities.
  • Residents will enjoy direct access to retail outlets at DA Central Mall, enhancing community living.
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Tropicana formalises 10 MOUs to strengthen hospitality ecosystem ahead of T Journey launch

Tropicana formalises 10 MOUs to strengthen hospitality ecosystem ahead of T Journey launch

news

Updated:
  • Tropicana Corp Bhd has signed 10 MOUs to enhance its hospitality ecosystem ahead of T Journey's launch.
  • The T Journey platform aims to provide seamless travel experiences and boost sustainable tourism in Langkawi.
  • Its first residences, Tropicana Cenang, will feature serviced suites and retail spaces.
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Sime Darby Property hits record RM803.4m PBT as SHIFT32 strategy begins; KWAP raises stake

Sime Darby Property hits record RM803.4m PBT as SHIFT32 strategy begins; KWAP raises stake

news

Updated:
  • Sime Darby Property Bhd reported a record profit before tax of RM803.4 million for FY2025.
  • It is launching a new seven-year roadmap, SHIFT32, focusing on industrial parks and digital infrastructure.
  • SimeProp aims to become "cycle-proof" by the decade's end.
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IJM revenue tops RM5b in 9MFY2026 as construction rebound offsets property drag amid Sunway takeover bid

IJM revenue tops RM5b in 9MFY2026 as construction rebound offsets property drag amid Sunway takeover bid

news

Updated:
  • IJM Corp Bhd's revenue rose 12.4% to RM5.01 billion, but profit before tax fell 33.6% to RM354.2 million.
  • Faces pressure from weaker property sales and higher forex losses, while construction revenue surged 53.7%.
  • Shareholders are evaluating a conditional takeover offer from Sunway Bhd at RM3.15 per share.
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Loke says LRT3 contractor may face over RM475m penalties, vows accountability over delays

Loke says LRT3 contractor may face over RM475m penalties, vows accountability over delays

news

Updated:
  • LRT3's main contractor may face over RM475 mil in penalties for project delays, says Transport Minister Loke.
  • The new operation deadline is June 2026, with daily damages of RM2,729,280 for delays.
  • Future projects will include long-term maintenance costs to ensure better upkeep and reliability.
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Rivertree enters into a RM600m related-party deal to build labour quarters

Rivertree enters into a RM600m related-party deal to build labour quarters

news

Updated:
  • Rivertree STF Synergies Bhd has signed a heads of agreement to develop four labour quarters in Klang Valley.
  • The project, valued at RM600 million, will provide 28,800 beds and is led by RSSB Builders Sdn Bhd.
  • Collaboration involves related parties, with Rivertree's directors holding stakes in the partner companies.
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Sunway's ongoing takeover offer for IJM under MACC investigation, says Azam Baki