MBI’s Tedy Teow re-emerges in Malaysia’s corporate scene in possible tie-up with Sand Nisko
Teow Wooi Huat appears to have returned to Malaysia’s corporate scene. Stock exchange disclosure reveals that the businessman’s 519.5 acres land in Melaka has piqued the interest of Sand Nisko Capital Bhd to participate in a RM1.75 billion mixed-used development.
AWC’s unit bags RM7.17m job for sanitary fittings, plumbing works
AWC Bhd has won a sub-contract worth RM7.17 million for works related to cold water, hot water, rainwater harvesting, sanitary plumbing and the installation of sanitary fittings and ware works for a seven-storey block of luxury apartments in Bukit Damansara, Kuala Lumpur.
UOA REIT posts weaker earnings on lower occupancy, higher expenditure
UOA Real Estate Investment Trust (REIT)’s first quarter net profit fell 8.8% amid a decline in occupancy rate at its older buildings, coupled with an increase in expenditure, driven by higher electricity and borrowing costs.
Malaysia outperforms regional peers in 2022 tourism recovery, says StanChart
Excluding Malaysia, tourist arrivals to Indonesia, the Philippines, Singapore, Thailand and Vietnam have recovered to an average of about 60% of 2019 levels
PRG appoints former BNM director Arlina Ariff to board
Arlina, who served the central bank from September 2000 to July 2022, has 25 years of experience in the banking, finance and economics industries.
Tower REIT’s earnings further weighed down by higher electricity tariff, wages
Office-focused Tower Real Estate Investment Trust (REIT) reported an 87% year-on-year drop in net trust income or net profit in its third quarter ended March 31, 2023 (3QFY2023), as earnings were weighed down further by higher electricity tariff, minimum wage hike, as well as interest, housekeeping and security expenses.
OCR Group’s units sued by contractor over alleged payment default
Property developer OCR Group Bhd’s units are being sued by their contractor over alleged payment default of RM30.93 million in relation to projects in Kuantan and Petaling Jaya.
KLCCP Stapled Group expects ‘better’ financials in 2023 despite rising costs pressure
The group recorded a net profit of RM782.66 million for the financial year ended Dec 31, 2022 (FY2022), up 58% from RM495.85 million, on the back of 24% growth in revenue to RM1.46 billion from RM1.17 billion.
South Malaysia Industries lodges complaint with SC on alleged CMSA breach
... alleging that over 20 parties comprising companies and individuals acting in concert have accumulated more than 33% equity stake without making a mandatory general offer.