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Penang CM defends rejection of IJM-Aspen bid by releasing part of tender documents

Penang CM defends rejection of IJM-Aspen bid by releasing part of tender documents

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Updated:
  • Penang Chief Minister Chow Kon Yeow defended the rejection of the IJM consortium's bid for the BKIP 2 project.
  • He cited that the proposal did not meet key requirements and would impose significant costs on PDC.
  • Chow emphasised that the decision was consistent with governance procedures
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Sunway’s shares rise post 1Q results, though analysts warn of looming cost pressures

Sunway’s shares rise post 1Q results, though analysts warn of looming cost pressures

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Updated:
  • Sunway Bhd's shares rose 3.8% after reporting a RM9.4 bil net profit for Q1 FY2026.
  • Analysts remain cautious, citing rising costs and a mixed outlook.
  • The company's net gearing improved to 0.32 times, reflecting a stable long-term prospect.
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Tropicana’s 1Q revenue rises 20.5%, unbilled sales at RM1.7 bil

Tropicana’s 1Q revenue rises 20.5%, unbilled sales at RM1.7 bil

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Updated:
  • Tropicana Corp Bhd's revenue rose 20.5% to RM313.7 mil in 1QFY2026, driven by key project billings.
  • The company reported a loss before tax of RM12.8 mil, mainly due to an unrealised loss on shares.
  • Despite this, unbilled sales reached RM1.7 bil, supporting future earnings visibility.
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ETA Group to acquire Bandar Sri Damansara industrial property for RM16.5 mil

ETA Group to acquire Bandar Sri Damansara industrial property for RM16.5 mil

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Updated:
  • ETA Group Bhd is acquiring a freehold industrial property in Selangor for RM16.5 mil in cash.
  • The property includes land, a five-storey building, and a basement car park.
  • Despite economic challenges, Malaysia's growth is projected at 4%-5% in 2026, supported by domestic demand.
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Kuala Lumpur luxury hotel transactions rise 14% as Asia Pacific deal volumes hit US$2.1 bil in 2025, says JLL

Kuala Lumpur luxury hotel transactions rise 14% as Asia Pacific deal volumes hit US$2.1 bil in 2025, says JLL

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Updated:
  • Kuala Lumpur's luxury hotel transactions reached RM660 mil from 2023 to 2025, a 14% rise post-pandemic.
  • Luxury segment's share of total hotel transactions grew from 26% to 30%, driven by high-profile acquisitions.
  • JLL anticipates strong investor interest in luxury hotels, supported by tourism recovery and upcoming events.
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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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