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Sunsuria raises stake in KL City Gateway to 61% majority with RM21.46m acquisition

Sunsuria raises stake in KL City Gateway to 61% majority with RM21.46m acquisition

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Updated:
  • Sunsuria Bhd has acquired an additional 41% stake in KL City Gateway, raising its ownership to 61%.
  • The RM21.46 million deal consolidates KLCG as a subsidiary, enhancing Sunsuria's role in the project.
  • The KL City Gateway development will feature commercial and residential spaces.
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Chin Hin Group Property wraps up private placement, abandons remaining tranche

Chin Hin Group Property wraps up private placement, abandons remaining tranche

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Updated:
  • Chin Hin Group Property Bhd completed its private placement, raising RM73.9 million from 64.3 million shares.
  • The company opted not to extend the placement deadline and will not issue remaining shares.
  • Initially targeting RM105 million, the funds were intended for joint venture projects with Fiamma Holdings Bhd.
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MRCB profit holds steady at RM73.2m PBT as new project wins offset 27% revenue drop from LRT3 taper

MRCB profit holds steady at RM73.2m PBT as new project wins offset 27% revenue drop from LRT3 taper

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Updated:
  • MRCB reported a revenue of RM1.20 billion for FY2025, down 27% from the previous year due to project completions.
  • The Engineering division led with RM944.8 million in revenue, while property sales rose 11% to RM927.4 million, driven by Australian developments.
  • MRCB plans RM2.2 billion in domestic launches for 2026, expecting revenue normalisation by 2027.
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Maybank sets May 6 for Merdeka 118 move, anchoring world’s second-tallest building

Maybank sets May 6 for Merdeka 118 move, anchoring world’s second-tallest building

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Updated:
  • Maybank will officially relocate its head office to Menara Merdeka 118 on May 6.
  • The move involves 33 floors and approximately 7,000 employees, marking a significant milestone.
  • Menara Maybank will be leased back to PNB, ensuring its continued operation as an office property.
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Tanco denies new undisclosed developments behind share price surge, points to Midport Project media coverage

Tanco denies new undisclosed developments behind share price surge, points to Midport Project media coverage

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Updated:
  • Tanco Holdings Bhd addressed Bursa Malaysia's UMA query regarding its rising share price.
  • The company stated no new corporate developments were known to its board, attributing interest to past milestones.
  • Tanco confirmed compliance with listing requirements and will announce future developments when finalised.
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Zelan's proposed scheme of arrangement receives 100% creditor approval at court-convened meeting

Zelan's proposed scheme of arrangement receives 100% creditor approval at court-convened meeting

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Updated:
  • Zelan Bhd has secured unanimous creditor approval for its debt restructuring scheme.
  • The company, classified as PN17, has been on Bursa Malaysia's watchlist since late 2025.
  • It will now seek court sanction for the proposed arrangement following the creditors' meeting on April 20.
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MRCB completes acquisition of 80% equity interest in Bukit Jalil Sentral Property, pays RM1.49b to EPF

MRCB completes acquisition of 80% equity interest in Bukit Jalil Sentral Property, pays RM1.49b to EPF

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Updated:
  • Malaysian Resources Corp Bhd (MRCB) acquired an 80% stake in Bukit Jalil Sentral Property Sdn Bhd.
  • The purchase included a cash payment of RM1.42 billion to the Employees Provident Fund.
  • BJSP is now an indirect wholly-owned subsidiary of MRCB, enhancing its strategic property portfolio.
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SCIB's Ku Chong Hong emerges as Axteria substantial shareholder, appointed executive director

SCIB's Ku Chong Hong emerges as Axteria substantial shareholder, appointed executive director

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Updated:
  • Ku Chong Hong has acquired a 27.13% stake in Axteria Group Bhd through Atlantis Corporate Sdn Bhd.
  • Woo Wai Onn has exited Axteria after selling his 23.62% stake, while Datuk Abdullah Abdul Mannan and Mok Juan Chek resigned from their positions.
  • Axteria appointed Oh Bang Han as an executive director amid these changes.
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UOB Malaysia unveils RM1b investment commitments to support Johor–Singapore SEZ

UOB Malaysia unveils RM1b investment commitments to support Johor–Singapore SEZ

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Updated:
  • UOB Malaysia launched new initiatives to support the Johor-Singapore Special Economic Zone.
  • The bank secured over RM1 billion in investor commitments and aims to enhance digital literacy among students.
  • UOB's efforts, in collaboration with key agencies, have facilitated over RM18 billion in foreign direct investment.
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Mudajaya wins appeal, court raises compensation to RM72.2 mil in fund misappropriation case

Mudajaya wins appeal, court raises compensation to RM72.2 mil in fund misappropriation case

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Updated:
  • Mudajaya Group Bhd won a Court of Appeal ruling, increasing compensation to RM72.2 million.
  • The case involves former employee Michael Chua and misappropriation linked to a RM720 million project.
  • Despite the ruling, Mudajaya expects no significant impact on earnings for FY2026 until full recovery occurs.
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