News by Choy Nyen Yiau

Crescendo Corporation Bhd’s (KL:CRESNDO) net profit for the second quarter ended July 31, 2024 (2QFY2025) surged more than 30-fold year-on-year (y-o-y), boosted by its data centre-linked land sales in Nusa Cemerlang Industrial Park (NCIP), Johor.

Talam said the consolidation may reduce the volatility of its share price, as they are currently trading at a low, so much so that even a small change can have a significant percentage impact.

Practice Note 17 (PN17) company Ivory Properties Group Bhd (KL:IVORY) announced on Wednesday that its wholly-owned subsidiary, Ivory Gleneary Sdn Bhd (IGSB), has appointed interim liquidators to initiate the winding-up of the company as part of its regularisation plan.

Magma Group Bhd (KL:MAGMA) said on Tuesday it is acquiring a 2.26-acre plot of land in the Persiaran Dutamas area of Kuala Lumpur from a company connected to its executive chairman and major shareholder Datuk Seri Lee Hock Seng, for RM80 million.

The shares have been suspended from trading since Aug 9 due to the now-set-aside winding-up petition filed by Strong Force (M) Sdn Bhd.

TSR Capital Bhd (KL:TSRCAP) said on Wednesday that it has secured a RM75 million contract to undertake construction works at Elmina Business Park 2 in Gombak, Selangor.

Chin Hin Group Bhd (KL:CHINHIN) managing director Chiau Haw Choon is no longer a substantial shareholder in NCT Alliance Bhd (KL:NCT) after disposing of a 0.62% stake for RM5.8 million.

Haily Group Bhd (KL:HAILY) said on Wednesday that it has secured a RM75.9 million contract from Mah Sing Group Bhd’s (KL:MAHSING) subsidiary for construction works on a residential development in Johor Bahru.

WCT Holdings Bhd (KL:WCT) has proposed to dispose of three retail properties for RM2.44 billion to a newly established real estate investment trust (REIT) named Paradigm REIT, which will be listed on the Main Market of Bursa Malaysia.

Grand Central Enterprises Bhd's (KL:GCE) major shareholders failed in their bid to take the hotel operator private, after the proposal was rejected by minority shareholders at an extraordinary general meeting (EGM) on Friday.