News by Izzul Ikram

Pavilion Real Estate Investment Trust (KL:PAVREIT) has proposed to buy two hotels in Kuala Lumpur for an aggregate RM480 million, and undertake a private placement to raise up to RM552 million to fund the acquisitions.

LBS Bina Group Bhd (KL:LBS) said that it is unlikely for the group to meet its internal sales target of RM1.8 billion this year, due to deferred launches caused by a lengthy approval process.

Property developer KSL Holdings Bhd (KL:KSL) posted a 19.63% rise in net profit for the third quarter, due to higher sales of properties in its flagship developments in Johor Bahru, Kluang and Klang.

Citaglobal Bhd (KL:CITAGLB) has firmed up its collaboration with electric vehicle maker Tree Technologies Sdn Bhd to develop an industrial park with green elements in Pahang. It also proposed a bonus issue of up to 88.07 million free warrants.

Kuala Lumpur Kepong Bhd (KL:KLK) reported a record low net profit for its fourth quarter, dragged by non-cash losses and an inventory write-down related to its investment in UK-listed speciality chemicals company, Synthomer Plc.

The Court of Appeal (COA) here on Monday allowed the liquidator of Crest Worldwide Resources Sdn Bhd to adduce fresh evidence in SKN Land & Development Sdn Bhd’s (SKN L&D) appeal against the High Court’s decision to dismiss an application to terminate Crest’s winding-up.

Loss-making Classita Holdings Bhd (KL:CLASSITA) is mulling diversifying into the property investment business as it foresees growing demand.

Oriental Holdings Bhd (KL:ORIENT) saw the diversified group’s net profit for the third quarter fall 70.12% year on year to RM88.87 million, from RM297.42 million on the absence of one-off gains recognised in the corresponding quarter in 2023.

Zelan Bhd’s (KL:ZELAN) chief executive officer Mohd Ariff Abd Samat has departed from the post three months after his appointment.

Datuk Doh Tee Leong — via his investment vehicle Bright Meadow Sdn Bhd — acquired an aggregate 59.88% stake (38.5 million shares) in Mercury Industries from various vendors for RM34.65 million or 90 sen per share on Monday.