News by Ahmad Naqib Idris

Ho Hup said the job was awarded by Menuju Asas Sdn Bhd, the main contractor of the Malaysian Public Works Department.

Compugates Holdings Bhd’s 70%-owned subsidiary, Compugates Development and Mining Sdn Bhd, plans to dispose of a piece of land in Dengkil, Selangor, to Bangsawan Bumimaju Sdn Bhd for RM62.12 million.

The mixed commercial development will comprise retail, premium residences and offices, with a gross development value (GDV) of RM1.33 billion.

Mah Sing Group Bhd sees the worst to be over for the Malaysian property market as various market indicators appear to have bottomed out with residential property transactions seen to be contracting at a slower pace, while growth in house prices moderates.

Malaysia's construction segment is expected to grow between 8% and 10% in 2016 in terms of projects undertaken, driven by government infrastructure projects, said Works Minister Datuk Seri Fadillah Yusof.

HCK Capital Group Bhd said its indirect 70%-owned unit HCK Premier Builders Sdn Bhd (HPBSB) has entered into a joint venture (JV) development agreement with Daya Builders Sdn Bhd for the development of apartment units in Kuching, Sarawak.

The scheme is open to those with a household income of below RM10,000, seeking to buy houses priced at RM500,000 or less.

Kerjaya Prospek Group Bhd, formerly Fututech Bhd, has bagged a RM181.31 million contract from China Communications Construction Co (M) Sdn Bhd (CCCC) for dredging works pertaining to the second phase of the reclamation for Seri Tanjung Pinang development (STP 2) in Penang.

Property developers are expected to see more unsold residential units in 2016, as launches over the past two years are expected to come on stream, amid a slowdown in demand.

Inari said its wholly-owned subsidiary Inari Technology Sdn Bhd on Monday signed an agreement with Unetsys Sdn Bhd for the proposed acquisition.