News by Choy Nyen Yiau

SkyWorld Development Bhd (KL:SKYWLD) said the group on Friday entered into a deal to acquire 26.4 acres of  freehold land in Seberang Perai Tengah, Penang, for RM82.7 million.

The government is in the midst of finalising discussions with the receivers and managers of MEX II Sdn Bhd to determine the best solution for completing the stalled Maju Expressway extension (MEX II) project, according to Works Minister Datuk Seri Alexander Nanta Linggi.

The new parking concession, dubbed the Smart Integrated Parking (SIP) scheme has raised legal, commercial and operational concerns due to the limited information disclosed so far

Hektar Real Estate Investment Trust (KL:HEKTAR) said it has entered into a deal to buy two parcels of leasehold land in Melaka, totalling 41.8 acres, for RM40 million.

Avaland Bhd (KL:AVALAND) has signed a deal to acquire a 3.194-acre parcel of land on Jalan Putra here from a unit of Tan Chong Motor Holdings Bhd (KL:TCHONG) for RM148.8 million, which it plans to develop into a mixed-use commercial project.

The aluminium extrusion manufacturer said it is buying the property from Lucksoon Coatings Sdn Bhd.

Core net profit nine months into the financial year ending July 31, 2025, accounts for a little under two-thirds of the consensus’ full-year estimates. 

While the pipeline met technical specifications, a segment of it was not fully supported by the ground beneath, which was found to be soft and moist.

The pipeline of data centre projects in Malaysia is unlikely to be impacted by recent reports alleging that Chinese firms are using servers equipped with Nvidia chips to train artificial intelligence (AI) models, said MIDF Research.

They specifically highlighted the proposed 8% tax on commercial rental and leasing services, deeming its timing "gravely misguided".