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".
Cash-strapped property developer Country Heights Holdings Bhd (KL:CHHB) plans to dispose of a firm that owns a property in South Africa for RM600,000 in cash.
Property developer Bertam Alliance Bhd (KL:BERTAM) is set to exit Bursa Malaysia's Practice Note 17 (PN17) category for financially distressed companies on Thursday (June 12), after being in the status for seven years.
The Master Builders Association Malaysia (MBAM) has urged the government to reconsider the impending revision and expansion of the sales and service tax (SST) on construction services, citing concerns that the move will strain the industry’s cash flow.
Ho Hup Construction Co Bhd (KL:HOHUP), which slipped into Practice Note 17 (PN17) status earlier in April, has defaulted on revolving credit facilities from AmBank Islamic Bhd amounting to RM45.3 million.
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