News by Choy Nyen Yiau

Preliminary findings estimated the total cost of implementing the ART system—including infrastructure development, system installation, operations and maintenance—at RM211.95 million over a 10-year period.

Permodalan Nasional Bhd (PNB), one of the substantial shareholders of IJM Corporation Bhd (KL:IJM), will evaluate the takeover offer for the construction company before making any decision, Deputy Prime Minister Datuk Seri Fadillah Yusof said on Wednesday.

Sentoria said the writ has yet to be served on OCBC Bank and is expected to be served within six months from the date of lodgement.

Shares of GuocoLand (Malaysia) have climbed 59.8% since the start of the year. The stock last traded at 93.5 sen, the highest since 2018, for a market capitalisation of RM654.9 million.

YNH Property Bhd (KL:YNHPROP) said on Friday it has exercised its contractual right to defer upcoming coupon payments under its RM750 million unrated perpetual securities programme as part of efforts to conserve cash and strengthen liquidity.

Sentral REIT (KL:SENTRAL) posted a slight decline in net property income (NPI) in the fourth quarter, weighed down by higher operating expenses and lease accounting under MFRS 16.

The fare structure for Malaysia’s East Coast Rail Link (ECRL) is expected to be finalised by the end of this year, Transport Minister Anthony Loke said.

Vestland Bhd (KL:VLB) said it will not proceed with three Selangor affordable housing projects worth a total of up to RM550.69 million secured in 2022 from Splendid Forte Development Sdn Bhd.

Construction outfit SC Estate Builder Bhd (KL:SCBUILD) has formalised an agreement to acquire a 25% equity interest in a non-operational hotel in Alor Setar for RM18.79 million from chairman Loh Boon Ginn’s mother in its push into property investment.

Sunway Bhd (KL:SUNWAY) said on Thursday that its unit has proposed a sukuk wakalah programme of up to RM10 billion to fund working capital and refinancing of borrowings.