News by Gho Chee Yuan

After the lacklustre retail sales figures seen this year, retailers and analysts expect consumer spending to gradually recover next year. The immediate concern over the glut of retail space, however, remains a wild card in 2017.

Country Heights Holdings Bhd says its subsidiary Country Heights Sdn Bhd (CHSB) is appealing against the High Court's order to pay RM22.49 million worth of tax liabilities to the Inland Revenue Board (IRB).

Sarawak Consolidated Industries Bhd is acquiring Carlton Gardens Sdn Bhd for RM9.5 million, which would see the loss-making property developer penetrate into the government's affordable housing programme.  

The sum is derived from the indicative issue price of RM1 per share for 234.15 million offer units in its initial public offering (IPO), of which 220.65 million units are marked for institutional and selected investors — including bumiputera — with the remaining 13.5 million being retail offerings.

Mitrajaya said its wholly-owned subsidiary Pembinaan Mitrajaya Sdn Bhd has accepted the award from Medini Development Sdn Bhd.

MBSB said it plans to negotiate with the existing shareholders of AFB, namely Qatar Islamic Bank, RUSB Investment Bank Inc, Tadhamon International Islamic Bank and Financial Assets Bahrain WLL.

The group is acquiring the land from its single largest shareholder, the Armed Forces Fund Board (LTAT), which controls 60.92% of the group, for RM172.78 million, to be satisfied entirely by proceeds from a rights issue it completed on June 23.

TRIplc is involved in construction and property development while Puncak Niaga's list comprises construction, water as well as oil and gas support service businesses.

CIMB Investment Bank Bhd said the Kuala Lumpur-Singapore High Speed Rail (HSR) bilateral agreement was a "milestone" for the project, which would see bids from Malaysian builders.

Property developer Glomac told Bursa Malaysia that contractor Bina Goodyear Bhd filed the winding-up petition at the High Court of Malaya here on Nov 25 this year.