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Widad Group appealing court decision on payments claims tied to Langkawi project

Widad Group appealing court decision on payments claims tied to Langkawi project

news

Updated:
  • Widad Group Bhd is appealing a High Court decision on payment claims for the Langkasuka project.
  • The Court of Appeal will hear the case against Menta Construction on July 30.
  • Widad claims the legal action won't significantly impact its financial position, aside from legal costs.
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Kitacon secures RM99 mil construction job in Cyberjaya

Kitacon secures RM99 mil construction job in Cyberjaya

news

Updated:
  • Kumpulan Kitacon Bhd has secured a RM99.28 million project in Cyberjaya from ParkCity Botanika.
  • The contract involves constructing 128 three-storey terraced houses and related facilities, starting May 2.
  • This marks Kumpulan Kitacon’s second contract win for the year.
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Eversendai’s Trojena Ski Village contract in Saudi Arabia terminated amid Middle East tensions

Eversendai’s Trojena Ski Village contract in Saudi Arabia terminated amid Middle East tensions

news

Updated:
  • Eversendai Corporation received a termination notice for its Trojena Ski Village contract in Saudi Arabia.
  • The company plans to submit claims for compensation and demobilisation costs due to the termination.
  • Despite geopolitical issues, Eversendai remains optimistic about new projects.
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OCR Group unit to sell Magna Prima part of their Shah Alam development property

OCR Group unit to sell Magna Prima part of their Shah Alam development property

news

Updated:
  • OCR Group Bhd sold 4.58 acres of land in Shah Alam to Magna Prima Bhd for RM45 million.
  • The deal is part of Magna Prima's strategic expansion and will be funded through internal funds and loans.
  • Completion of the transaction is expected within six months, with both companies' shares remaining unchanged.
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IJM: MACC clarifies probe targets individuals only, not the group as an entity

IJM: MACC clarifies probe targets individuals only, not the group as an entity

news

Updated:
  • IJM Corporation Bhd confirmed that the MACC's investigation does not involve the company itself.
  • The probe is focused on individuals linked to IJM amid allegations of a RM2.5 billion money laundering scheme.
  • IJM's chairman is cooperating with the MACC, while Sunway Bhd's takeover offer for IJM is also under investigation.
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Wing Tai bets RM45m on Mont’Kiara as competition stiffens in KL’s premier address

Wing Tai bets RM45m on Mont’Kiara as competition stiffens in KL’s premier address

news

Updated:
  • Wing Tai Holdings Ltd has acquired a freehold land parcel in Mont’Kiara for RM45 million.
  • The site will be developed into a residential project, with plans for a boutique launch in 2027.
  • The upcoming MRT3 Circle Line may significantly enhance Mont’Kiara's appeal by improving connectivity.
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Court finds DBKL negligent in 2023 motorcyclist's death, ordered to pay over RM820,000

Court finds DBKL negligent in 2023 motorcyclist's death, ordered to pay over RM820,000

news

Updated:
  • The Kuala Lumpur City Hall was found negligent for a tree that fell and killed a motorcyclist.
  • The court ordered DBKL to pay RM824,180 in damages to the victim's parents for their loss.
  • The judge emphasised DBKL's duty to maintain public safety regarding roadside trees.
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REITs face near-term volatility as new tax regime takes effect

REITs face near-term volatility as new tax regime takes effect

news

Updated:
  • The removal of the 10% withholding tax on REITs will lead to near-term repricing in the sector.
  • Investors will face higher effective tax rates, particularly affecting higher-income groups.
  • Despite this, HLIB maintains an "overweight" stance on REITs, expecting yields to stabilise over time.
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Setia Foundation reaches out to Asnaf community via ‘Sincerely, Setia Ramadan Mubarak’ programme

Setia Foundation reaches out to Asnaf community via ‘Sincerely, Setia Ramadan Mubarak’ programme

news

Updated:
  • Setia Foundation held the Sincerely, Setia Ramadan Mubarak programme for 240 Asnaf families.
  • Each family received RM200 in zakat and Ramadan baskets worth RM80, totaling RM67,200 disbursed.
  • The initiative involved 86 volunteers and aimed to support underprivileged communities during Ramadan.
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Rising landmarks on KL prime sites set to repaint city centre canvas

Rising landmarks on KL prime sites set to repaint city centre canvas

news

Updated:
  • Kuala Lumpur's skyline is rapidly changing with new construction in the KL CBD and Bukit Bintang.
  • Major projects include Cititower, CloutHaus Residences, and the upcoming GameOn Theme Park.
  • Bukit Nanas is also seeing developments like One Sultan Ismail, adding to the city's vertical growth.
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