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US seizes luxury apartment bought with 1MDB funds for Jho Low’s aide

US seizes luxury apartment bought with 1MDB funds for Jho Low’s aide

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Updated:
  • US authorities have secured a court order to seize a luxury NYC apartment linked to 1MDB funds.
  • The case aimed to recover over US$6 mil in assets misappropriated from the Malaysian fund.
  • Former PM Najib Razak was sentenced to 12 years for his role in the scandal, now reduced to six years.
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LSH Capital accepts RAC offer for 17.4-acre Selangor land development

LSH Capital accepts RAC offer for 17.4-acre Selangor land development

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Updated:
  • Lim Seong Hai Capital Bhd has accepted an offer for two land parcels in Selangor totaling 17.4 acres.
  • Despite a 13.8% drop in net profit, the company continues to expand its development pipeline.
  • Strong construction order book and property pipeline are expected to ensure earnings visibility through 2029.
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Matrix Concepts’ FY2026 revenue rises 18%, profit before tax up 8%

Matrix Concepts’ FY2026 revenue rises 18%, profit before tax up 8%

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Updated:
  • Matrix Concepts Holdings Bhd reported a 3.9% rise in net profit to RM223.26 mil for FY2026.
  • Revenue increased 18.2% to RM1.36 bil, driven by property development and other segments.
  • The group declared a total dividend of 6.1 sen per share, down from 7.95 sen in FY2025.
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UOA Group co-founder CS Kong passes away

UOA Group co-founder CS Kong passes away

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Updated:
  • UOA Group co-founder CS Kong has passed away at 85 on May 27, 2026.
  • Kong Pak Lim will temporarily take over as managing director until a new appointment.
  • He significantly contributed to UOA Development's growth and success over his 42-year career.
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Penang gazettes 15 heritage sites this year

Penang gazettes 15 heritage sites this year

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Updated:
  • Penang has gazetted 50 cultural heritage items this year to preserve its cultural treasures.
  • This includes 15 heritage sites, 7 intangible elements, and 28 local food items.
  • The state aims to elevate its heritage for potential UNESCO recognition by 2026!
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Train derails near Chan Sow Lin station; Rapid KL activates alternative plan

Train derails near Chan Sow Lin station; Rapid KL activates alternative plan

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Updated:
  • An LRT train derailed on the Ampang/Sri Petaling Line near Chan Sow Lin station due to a faulty track switch.
  • Rapid KL has implemented free shuttle services and alternative train routes to assist affected commuters.
  • All 25 passengers were safely evacuated, and no injuries were reported during the incident.
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JAKS’ Vietnam JV lifts 1Q profit as construction, property investment showed mixed operational trends

JAKS’ Vietnam JV lifts 1Q profit as construction, property investment showed mixed operational trends

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Updated:
  • JAKS Resources reported higher contributions from its Vietnam power JV, offsetting weaker property results.
  • The construction division showed a smaller loss, while the power-energy segment turned profitable.
  • JAKS aims to grow through its power division and renewable energy projects, while enhancing property yields.
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LBS Bina posts RM37.7 mil 1Q PBT, rides on Klang Valley projects and stronger construction earnings

LBS Bina posts RM37.7 mil 1Q PBT, rides on Klang Valley projects and stronger construction earnings

news

Updated:
  • LBS Bina Group Bhd reported a steady first quarter for FY2026, with RM296.5 mil in revenue.
  • Property drove earnings, contributing 85% of revenue, while construction and trading showed improvement.
  • The group remains cautiously optimistic, with strong sales momentum and a substantial landbank.
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Sime Darby Property’s 1Q profit up 33.5%, to reassess RM4 bil sales target amid cost pressures

Sime Darby Property’s 1Q profit up 33.5%, to reassess RM4 bil sales target amid cost pressures

news

Updated:
  • Sime Darby Property Bhd reported a 33.5% rise in net profit to RM163 mil for 1QFY2026, despite lower revenue.
  • The company achieved RM918.9 mil in sales, with industrial products being the largest contributor at 53%.
  • A long-term incentive plan for executives is proposed, pending shareholder approval on June 10, 2026.
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