News by Chester%20Tay

The research house said the Chinese steel industry is at a crossroad, as both production and consumption of crude steel have been steadily declining from the 2020 peak.

Selangor Dredging Bhd’s wholly owned unit is buying 29.19 acres (11.81 hectares) of vacant leasehold land, together with completed earthworks, in Dengkil, Selangor for RM87.9 million from Xtra Touch Sdn Bhd.

Gadang Holdings Bhd nearly doubled its net profit for the first quarter ended Aug 31, 2023 (1QFY2024) from a year ago, thanks to stronger property sales, coupled with the commencement of commercial operations of its nine-megawatt (MW) mini hydropower plant in Lintau, Indonesia.

Atrium Real Estate Investment Trust's (REIT) net profit for the third quarter ended Sept 30, 2023 (3QFY2023) fell 4.1% year-on-year on higher expenses owing to an increase in finance costs amid the elevated interest rate environment.

EP Manufacturing Bhd (EPMB) is establishing an automotive manufacturing facility in Melaka involving over RM100 million investment to cater for BAIC and Great Wall Motor (GWM) vehicles.

EcoFirst Consolidated Bhd is selling 15 retail units from its completed Liberty Arc @ Ampang Ukay mixed development project to major shareholder Tan You Tiong for RM23.82 million.

AMMB Holdings Bhd has provided a RM450 million financing facility to Eastern & Oriental Bhd’s (E&O) unit to fund the development of the Andaman Island project in Penang.

Malaysia Building Society Bhd (MBSB) has completed its acquisition of Malaysian Industrial Development Finance Bhd (MIDF) from Permodalan Nasional Bhd (PNB) for RM1.01 billion worth of new share issuance at 96.52 sen per share.

Glomac Bhd's net profit dropped 21.5% for the first quarter ended July 31, 2023 (1QFY2024) on lower contribution from its property development business after the completion of several projects, coupled with a dearth of new launches.

Land & General Bhd (L&G) allayed concerns that liquidity issues faced by joint venture partner Country Garden would have a negative spillover effect on their 167-acre township development in Semenyih that started in 2014.