News by Chester Tay

Loss-making builder Pasukhas Group Bhd has secured a RM21 million contract to build a production building, warehouse and three-storey office in Kulai, Johor.

Gamuda Bhd has redesignated former auditor general Tan Sri Ambrin Buang as the group’s new chairman, succeeding  Datuk Mohammed Che Hussein, who retired in December 2022.

Its wholly-owned unit Pasdec Corp Sdn Bhd has entered into a JV agreement with a special purpose vehicle called Sedimi Property Development Sdn Bhd to develop the 238 pieces of vacant leasehold plots with a total area of 60,049 square metres.

Net property income fell to RM3.88 million in 2QFY23, from RM4.7 million a year ago, while net income declined 93% to RM108,000 from RM1.53 million amid higher interest expense.

Following the termination, Zecon will be buying back the project from PR1MA for RM63.56 million, which includes the land cost. 

CapitaLand Malaysia Trust is “slightly optimistic” that its portfolio occupancy rate would sustain its recovery momentum going into 2023 despite a challenging macroeconomic condition.

Mah Sing Group Bhd is buying two parcels of land measuring 8.2 acres in Puchong for RM85.86 million from Millennium Acres Sdn Bhd, an entity 50%-owned by Tanco Holdings Bhd’s managing director Datuk Seri Andrew Tan Jun Suan.

Binasat Communications Bhd’s unit has secured an RM18.36 million subcontract work to build a large scale solar photovoltaic facility in Selangor for Fabulous Sunview Sdn Bhd, a wholly-owned unit of newly-listed Sunview Group Bhd.

The 61-year-old was redesignated as MD in May 2019, two months after the demise of his elder brother Koh Seng Kar @ Koh Hai Siew, who founded the group in the 1980s.

Nestcon said the 41-month contract was awarded by Armada Istimewa Sdn Bhd for undertaking the construction and completion of earthworks, piling and pile caps, retaining wall, substructure, main building works and infrastructure works for the project.