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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

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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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Malaysia not immune to housing affordability pressures, shifting to targeted reforms — minister

Malaysia not immune to housing affordability pressures, shifting to targeted reforms — minister

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Updated:
  • Malaysia faces rising housing affordability issues despite a high homeownership rate of 76.5%.
  • Shifting to targeted housing reforms, focusing on long-term liveability and local income benchmarks.
  • Collaboration with global institutions aims to attract talent and address affordability challenges.
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Binastra Corp's 4Q net profit jumps 70% to RM42.4 mil driven by construction business

Binastra Corp's 4Q net profit jumps 70% to RM42.4 mil driven by construction business

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Updated:
  • Binastra Corp Bhd's 4Q net profit surged nearly 70% to RM42.4 million, driven by its construction business.
  • Revenue for the quarter rose 77% to RM477.2 million, supported by new contracts worth RM2.3 billion.
  • The group plans to sustain growth by efficiently executing its order book and exploring new opportunities.
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Sunway stands firm on IJM bid, citing independent valuations and its own track record

Sunway stands firm on IJM bid, citing independent valuations and its own track record

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Updated:
  • Sunway Bhd is firm on its RM3.15 per share takeover offer for IJM Corp, citing fair valuations.
  • Founder Tan Sri Dr Jeffrey Cheah stated they won't revise the bid unless they secure 50% plus one share.
  • Sunway aims to create a "national champion" by merging strengths in various sectors.
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Beyond the brewery: Heineken’s production shift highlights rising strategic value of PJ industrial land

Beyond the brewery: Heineken’s production shift highlights rising strategic value of PJ industrial land

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Updated:
  • Heineken NV is shifting its Singapore operations to focus on logistics and innovation, impacting PJ.
  • The Sungei Way facility will supply to Singapore and Asia-Pacific, with production split across regional hubs.
  • This change is driving a revaluation of industrial land in PJ.
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MBAM calls for urgent support as construction cost pressures escalate

MBAM calls for urgent support as construction cost pressures escalate

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Updated:
  • MBAM urges immediate action from the government and private sector due to rising costs affecting contractors.
  • They seek tax relief, subsidies, and measures to stabilise supply chains and project continuity.
  • The association calls for collaboration with private clients to ensure project viability amid challenges.
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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

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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

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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

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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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