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PNB turns down Sunway's offer for IJM shares

PNB turns down Sunway's offer for IJM shares

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Updated:
  • Permodalan Nasional Bhd (PNB) has rejected Sunway Bhd's voluntary takeover offer for its IJM stake.
  • Decision followed a thorough evaluation, focusing on PNB's fiduciary duty and long-term value considerations.
  • PNB emphasised that IJM's market valuation does not reflect its true 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

news

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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