News by Choy Nyen Yiau

The federal government has agreed in principle to grant a 20-year concession for the operation and maintenance management of Kuala Lumpur Tower to construction company Lim Seong Hai Capital Bhd (KL:LSH) and its joint venture (JV) partner.

Johor-based property developer Paragon Globe Bhd (KL:PGLOBE) is acquiring a parcel of land, measuring 9.84 acres in Plentong, Johor Bahru, for RM13.5 million.

Nestcon Bhd (KL:NESTCON) has secured a RM37.7 million contract for construction works on a development project in Kota Seri Langat in Banting, Selangor.

Nextgreen Global Bhd (KL:NGGB) has signed a memorandum of understanding (MOU) with Sawit Palm Oil Industrial Cluster Sdn Bhd (SPOIC) to collaborate on establishing the 400-acre Green Technology Park Sandakan in Sabah.

The High Court here has set August 9 to hear Tunas Manja Development & Construction (KL) Sdn Bhd's (TMDC KL) winding-up petition against SPNB Aspirasi Sdn Bhd, a wholly-owned subsidiary of national housing development company Syarikat Perumahan Negara Bhd (SPNB).

Suria Capital Holdings Bhd (KL:SURIA), which operates eight major ports in Sabah, said it has entered into a deal to develop a mixed commercial project in the Kota Kinabalu Port area.

Despite ongoing litigation with MBSB Bank over payment defaults, Country Heights Holdings Bhd (KL:CHHB) announced on Monday a tender process to attract investors for the Mines Waterfront Business Park (MWBP) and Mines International Exhibition and Convention Centre (MIECC) project development in Seri Kembangan.

The government said it will prioritise addressing the issue of unlicensed abandoned private housing projects, including by collaborating with stakeholders.

Shares in IJM Corp Bhd (KL:IJM) hit a record high in early trade on Thursday after the construction-and-property company reported better-than-expected results for the fourth quarter ended March 31, 2024 (4QFY2024).

IJM Corp Bhd's (KL:IJM) net profit for the fourth quarter ended March 31, 2024 (4QFY2024) leapt over 10-fold to RM305.5 million from RM23.1 million a year earlier, thanks to a sharp rise in other operating income.