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EPF abstained from voting on Sunway's takeover offer for IJM

EPF abstained from voting on Sunway's takeover offer for IJM

news

Updated:
  • The Employees Provident Fund (EPF) abstained from voting on Sunway Bhd's takeover offer for IJM Corp.
  • Sunway's offer of RM3.15 per share was deemed unfair by M&A Securities, suggesting a significant discount.
  • IJM shares rose 5.06% to RM2.49, while Sunway's shares increased by 1.53% to RM5.31.
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Rehda commends KPKT for continued Inisiatif Simen Rahmah support

Rehda commends KPKT for continued Inisiatif Simen Rahmah support

news

Updated:
  • Rehda appreciates the Ministry of Housing's support for the housing industry amid rising costs.
  • The Skim Simen Rahmah initiative has helped construct 11,909 affordable homes.
  • Rehda encourages responsible use of this initiative to enhance housing affordability for Malaysians.
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IGB Bhd's PBT surges 219% to RM621.5m in 1Q FY2026 on strategic UK hotel divestment

IGB Bhd's PBT surges 219% to RM621.5m in 1Q FY2026 on strategic UK hotel divestment

news

Updated:
  • IGB Bhd reported a profit before tax of RM621.47 mil for 1Q2026, up 219% from last year.
  • Net profit soared to RM501.98 mil, a 464% increase, driven by a one-off gain from UK hotel asset sales.
  • The board declared a special dividend of 2.5 sen per ordinary share for FY2026.
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EXSIM Hospitality bags RM45m Summit Hotel USJ revamp job

EXSIM Hospitality bags RM45m Summit Hotel USJ revamp job

news

Updated:
  • EXSIM Hospitality Bhd has secured a RM45 million contract to redevelop Summit Hotel USJ.
  • The project will transform the hotel into a 17-storey building and is set to complete by December 2026.
  • Shares of EXSIM rose 3.1% following the announcement, reflecting positive market sentiment.
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Batu Kawan buys 47.7% MKH stake from Chen family; launches MGO at RM2 per MKH share

Batu Kawan buys 47.7% MKH stake from Chen family; launches MGO at RM2 per MKH share

news

Updated:
  • Batu Kawan Bhd plans to acquire a 47.7% stake in MKH Bhd for RM549.8 mil, priced at RM2 per share.
  • The company aims to take MKH private if it secures a 90% stake and will also buy a 3.9% stake in MKH Oil Palm.
  • This move is intended to expand Batu Kawan's property and plantation operations.
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UEM Sunrise maintains profitability in 1QFY2026, posts RM22.5m PBT as property development revenue grows 24%

UEM Sunrise maintains profitability in 1QFY2026, posts RM22.5m PBT as property development revenue grows 24%

news

Updated:
  • UEM Sunrise Bhd reported a profit before tax of RM22.49 million for Q1 2026, with revenue at RM347.71 mil.
  • Despite a 16.7% y-o-y revenue decline due to lower land sales, property development revenue rose by 24%.
  • The company aims for a sales target of RM1.3 bil and a gross development value of RM2.2 bil for FY2026.
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Kerjaya Prospek secures two contracts worth RM102.6 mil from E&O unit

Kerjaya Prospek secures two contracts worth RM102.6 mil from E&O unit

news

Updated:
  • Kerjaya Prospek Group Bhd has secured two contracts worth RM102.6 mil in Penang.
  • The contracts will enhance its order book to RM4.4 bil and provide earnings visibility for one to two years.
  • Analysts have a 'buy' rating on the stock, with a target price averaging RM3.12 per share.
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FT minister files police reports over Taman Segar freehold conversion claims

FT minister files police reports over Taman Segar freehold conversion claims

news

Updated:
  • Two police reports were filed over allegations of changing land status in Taman Segar, Cheras.
  • Minister Hannah Yeoh denied the claims, calling them slander and stating no such announcement was made.
  • She urged police to investigate and is considering legal action against those spreading false information.
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S P Setia posts RM108m PBT in 1QFY2026, cuts borrowings by RM500m as deleveraging gains pace

S P Setia posts RM108m PBT in 1QFY2026, cuts borrowings by RM500m as deleveraging gains pace

news

Updated:
  • S P Setia Bhd reported a profit before tax of RM108 mil and revenue of RM826 mil for 1Q.
  • Net profit came in at RM58 mil due to fewer land sales and unrealised foreign exchange losses.
  • The group aims to achieve FY2026 sales of RM4.6 bil while transitioning to an integrated real estate player.
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UDA launches Johor project Residensi Mutiara with homes from RM548,700

UDA launches Johor project Residensi Mutiara with homes from RM548,700

news

Updated:
  • UDA Holdings Bhd has launched Residensi Mutiara in Johor, with townhomes starting at RM548,700.
  • The project features sustainable elements and aims to enhance homeownership opportunities by 2029.
  • It offers family-friendly designs, security, and incentives like low down payments to attract buyers.
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Bites
EPF abstained from voting on Sunway's takeover offer for IJM