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East Coast Rail Link gets eight banks to manage renminbi loan exposure

East Coast Rail Link gets eight banks to manage renminbi loan exposure

news

Updated:
  • Malaysia has appointed eight banks to manage the East Coast Rail Link's renminbi loan exposure.
  • The project, nearing completion, aims to improve exchange-rate certainty and reduce currency volatility.
  • The ECRL, a major infrastructure initiative, is set for full completion by 2026, with services starting in 2027.
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Tropicana redeems RM89.43m Tranche 1 perpetual sukuk, advances deleveraging plan

Tropicana redeems RM89.43m Tranche 1 perpetual sukuk, advances deleveraging plan

news

Updated:
  • Tropicana Corp Bhd has fully redeemed its RM89.43 million Tranche 1 Perpetual Sukuk Musharakah.
  • The group reported unbilled sales of RM2.0 billion, ensuring earnings visibility amid ongoing developments.
  • MARC Ratings upgraded Tropicana's outlook to positive.
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OCR to acquire 49% stake in property consultancy firm via share issuance

OCR to acquire 49% stake in property consultancy firm via share issuance

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Updated:
  • OCR Group Bhd plans to acquire a 49% stake in Chester Properties via new shares priced at 4.1 sen each.
  • The acquisition aims to enhance OCR's market capabilities and support future developments.
  • Both companies expect the partnership to innovate property marketing and deliver greater value.
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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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East Coast Rail Link gets eight banks to manage renminbi loan exposure