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IJM says takeover offer reflects low point in earnings while asset value stays high

IJM says takeover offer reflects low point in earnings while asset value stays high

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Updated:
  • IJM Corporation Bhd urges shareholders to reject Sunway Bhd's takeover bid, citing low earnings.
  • IJM plans to unlock value via initiatives like exiting India, potentially listing its construction division.
  • IJM believes these strategies can be executed within two years to enhance shareholder value.
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UDA appoints veteran corporate leader Ahmad Fuaad Kenali as CEO

UDA appoints veteran corporate leader Ahmad Fuaad Kenali as CEO

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Updated:
  • UDA Holdings Bhd has appointed Datuk Ahmad Fuaad Mohd Kenali as CEO, effective April 1.
  • He brings over 30 years of experience in various sectors and aims to strengthen UDA's foundations.
  • Ahmad Fuaad is committed to driving growth and transformation with the support of the board and employees.
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IJM secures RM658 mil data centre contract in Elmina Business Park

IJM secures RM658 mil data centre contract in Elmina Business Park

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Updated:
  • IJM Corp Bhd has secured a RM658.01 million contract for a hyperscale data centre in Selangor.
  • Construction is set to begin in 2Q2026, with completion targeted for 3Q2027.
  • This is IJM's second contract in the Elmina Business Park, bringing the total project value to over RM1.9 bil.
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Apex court quashes NGO bid to challenge Bukit Cherakah’s degazettement in split 2-1 decision

Apex court quashes NGO bid to challenge Bukit Cherakah’s degazettement in split 2-1 decision

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Updated:
  • Federal Court rejected a judicial review by NGOs challenging the Selangor govt's removal of forest protection.
  • In a 2-1 decision, the court ruled against the NGOs' claims that the backdated degazettement was illegal.
  • The ruling impacts a contentious road project and highlights procedural concerns raised by the NGOs.
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Semantan Estate’s discovery application dismissed, hearing for compensation also deferred

Semantan Estate’s discovery application dismissed, hearing for compensation also deferred

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Updated:
  • The High Court dismissed Semantan Estate's discovery applications for documents related to land compensation.
  • Judge Roslan noted the government conducted thorough searches but found limited results.
  • The court rescheduled the assessment of damages to April 10, as both parties need time to exchange reports.
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Former KL Tower operator passes first hurdle in court to challenge last year's eviction notice

Former KL Tower operator passes first hurdle in court to challenge last year's eviction notice

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Updated:
  • Menara Kuala Lumpur Sdn Bhd and Hydroshoppe Sdn Bhd will challenge eviction notices in court.
  • The High Court allowed their judicial review against the Federal Lands Commissioner and the government.
  • The case involves allegations of contractual breaches related to the KL Tower concession award.
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Kenanga starts covering Al-Aqar Healthcare REIT for its recession-resistant portfolio

Kenanga starts covering Al-Aqar Healthcare REIT for its recession-resistant portfolio

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Updated:
  • Kenanga Investment Bank has rated Al-Aqar Healthcare REIT as 'outperform' due to its stable cash flows.
  • The REIT's portfolio is growing, with a target asset size of RM2.5 bil by 2028, bolstered by long-term leases.
  • However, risks include tenant concentration, as KPJ Healthcare is the main tenant for 90% of the portfolio.
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BHIC to dispose of Penang shipyard land for RM28 mil, expects RM14.4 mil gain

BHIC to dispose of Penang shipyard land for RM28 mil, expects RM14.4 mil gain

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Updated:
  • Boustead Heavy Industries Corp Bhd is selling three land parcels in Penang for RM28 million.
  • The sale aims to unlock value and generate cash flow, with an expected gain of RM14.39 million.
  • Proceeds will fund working capital, including settling payables and maintaining facilities.
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NCT Alliance expands NCT Smart Industrial Park with RM53 mil land subscription

NCT Alliance expands NCT Smart Industrial Park with RM53 mil land subscription

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Updated:
  • NCT Alliance Bhd is expanding its NCT Smart Industrial Park with a RM53 million land acquisition.
  • The deal will give NCT World a 99.8% stake in Semanja Murni Sdn Bhd, enhancing their industrial ecosystem.
  • The expansion is expected to have a gross development value of RM1.5 billion.
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Ikano Centres to launch new dining hubs at IPC and Toppen, targeting December 2026 opening

Ikano Centres to launch new dining hubs at IPC and Toppen, targeting December 2026 opening

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Updated:
  • Ikano Centres will launch two new dining concepts, IPC Gourmet Hall and Toppen Foodland, in December.
  • These spaces aim to enhance customer engagement and footfall within their IKEA-anchored malls.
  • Initiatives reflect a strategy to create vibrant social hubs, supporting longer visits and repeat customers.
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