News by Ahmad Naqib Idris

The rights issue has nothing to do with Bandar Malaysia.

Property and power company Tadmax Resources Bhd is confident of a turnaround this year, backed by earnings contribution from its RM1 billion gross development value Mizumi Residences project in Kepong.

“There are excellent opportunities for Malaysian suppliers in London at the moment. To date, about 60% to 65% of most materials for new buildings in Central London come from Europe."

It is proposing to buy assets in Malaysia and Australia, pay special dividend.

The REIT declared 2.37 sen of distribution per unit (DPU) for the quarter ended March 31, 2017 (3QFY17), comparable with the same period a year ago, payable on June 6. This brings its DPU for the first three quarters of FY17 (9MFY17) to 6.92 sen per unit, from 7.06 in 9MFY16.

Anzo Holdings Bhd said its wholly-owned subsidiary Harvest Court Construction Sdn Bhd (HCCSB) has been appointed the main contractor for Phase 2 of the Porto De Melaka Hotel and Resort development in Melaka.

Malaysia's Public Sector Home Financing Board had today issued up to RM3.25 billion worth of Islamic bonds or sukuk to finance the provision of housing loans to the public sector employees.

The safeguard duty has resulted in a significant increase in raw material costs.

Ikhmas Jaya Group Bhd gained 3.23% during the mid-morning session, after the company last Friday announced a contract win worth RM33.8 million.

The counter climbed RM1.05 or 20.39% today to close at RM6.20 following trades of 62,200 shares. Over the past week, the counter has gained RM2 or 48% since its closing of RM4.20 on April 5.