News by Adam Aziz

Kuchai Development Bhd is injecting RM275 million worth of assets and liabilities into Sungei Bagan Rubber Co (M) Bhd in a share deal, as part of efforts to consolidate the assets of two sister companies linked to Kluang Rubber Company (M) Bhd (KRCB).

The government is reviewing the surcharge and subscription period for the Green Electricity Tariff (GET) mechanism, as it looks into extending the green electricity subscription to 2024.

High electricity consumption households, alongside commercial and industrial (C&I) users in the Kulim Hi-Tech Park (KHTP) in Kedah will be charged 6.5 sen per kilowatt-hour (kWh)surcharge on their electricity tariffs for the first six months of 2024.

Johor Corp-linked Al-‘Aqar Healthcare REIT is disposing of its land and buildings of Jeta Gardens Aged Care Facility in Australia for AU$24.2 million (RM74.9 million) cash to Principal Healthcare Finance Pty Ltd.

Deputy Education Minister Lim Hui Ying is now the deputy finance minister, while Steven Sim has been appointed as the new human resources minister.

UniTapah Sdn Bhd, in which Crest Builder Holdings Bhd is buying the remaining 49% stake for RM43.61 million, has 11 years remaining on its maintenance works contract for the UiTM campus in Tapah, Perak.

The government is looking at releasing more net energy metering (NEM) quotas for rooftop solar installations for residential, commercial and industrial buildings before the year ends, as the existing quota that was expanded this year was filled up last week.

Sime Darby Bhd's net profit its first quarter ended September (1QFY2024) rose to RM589 million from RM207 million in 1QFY2023, as all segments improved, led by the industrial division, coupled with a RM251 million gain on disposal of Malaysia Vision Valley land to Sime Darby Property Bhd.

YTL Corp Bhd posted its best quarterly net profit since 2006 at RM521.7 million in the quarter ended Sept 30 (1QFY2024), as all business segments' contributions grew save for construction.

SkyWorld Development Bhd has declared its first interim dividend of RM12.5 million or 1.25 sen per share for the second quarter ended Sept 30 (2QFY2024), after posting a net profit of RM19.1 million or 2.53 sen per share.