News by JUSTIN LIM

Kerjaya Prospek Property Bhd (KL:KPPROP) has proposed a renounceable rights issue of redeemable convertible unsecured loan stocks (RCULS) to raise up to RM324.88 million, mainly to fund property development projects and repay bank borrowings.

Exsim Hospitality Bhd (KL:EXSIMHB) is raising up to RM250.79 million via a rights issue with warrants, to partly fund the RM240.25 million acquisition of a new five-star hotel in Empire City, Petaling Jaya, Selangor.

Construction firm MGB Bhd’s (KL:MGB) net profit rose 21.76% to RM14.44 million in the fourth quarter ended Dec 31, 2024 (4QFY2024) from RM11.86 million a year earlier, lifted by other income, despite recording lower revenue.

Cahya Mata Sarawak Bhd’s (KL:CMSB) net profit jumped 85.04% to RM65.8 million in the fourth quarter ended Dec 31, 2024 (4QFY2024), from RM35.56 million a year ago, lifted by improved business segments and better other income.

A sealed order was issued on Feb 12 this year and received by BJD on Feb 17. 

Metro Healthcare Bhd (KL:METRO) is acquiring a four-storey shop office in Subang Jaya for a cash consideration of RM9.5 million to expand its business.

Malaysian Pacific Industries Bhd (KL:MPI) is disposing of two parcels of land in Bayan Lepas, Penang for a total cash consideration of RM140 million.

As part of the lawsuit, SCIB is seeking several court declarations to safeguard its financial interests and legal standing.

After almost two years of suspension, the automated people mover system (aerotrain) at the Kuala Lumpur International Airport (KLIA) is now targeted to resume operations by the second quarter of 2025, subject to the testing and commission progress.

Berjaya Corp Bhd (KL:BJCORP) remains committed to participating in the Kuala Lumpur-Singapore high-speed rail (HSR) project. However, the project’s progression depends on the government's decision-making process and financial conditions, said the group's founder Tan Sri Vincent Tan Chee Yioun.