News by JUSTIN LIM

Property developer SkyWorld Development Bhd (KL:SKYWLD), which made its Main Market debut in July last year, said it is on target to launch developments with an estimated gross development value of RM4.6 billion by 2026, having achieved RM1.1 billion worth of launches so far.

Sime Darby Property Bhd (KL:SIMEPROP) said it has already hit 91% of its full-year sales target of RM3.5 billion for 2024 by September. Its unbilled sales stood at RM3.7 billion.

The stop-work order stemmed from complaints from nearby residents about an explosion at the site.

Mudajaya Group Bhd (KL:MUDAJYA) has bagged a contract worth RM41.34 million for the construction of a 17-storey condominium in Kuching, Sarawak.

Engineering outfit Pestech International Bhd (KL:PESTECH) said Shandong Power Equipment Co Ltd (Speco) has initiated arbitration proceedings against its wholly owned PESTECH Sdn Bhd (PSB) over what Speco claimed were unpaid dues related to the supply of transformers.

Packaging solution provider Scientex Bhd (KL:SCIENTX) said it has established a multi-currency Islamic medium-term notes programme of RM1.5 billion in nominal value.

Property developer Pasdec Bhd (KL:PASDEC) is expected to realise an estimated net gain of RM68.38 million from the proposed sale of industrial land in Kuantan, Pahang to Petroluxe Refinery (M) Sdn Bhd (PRSB) for RM73.5 million.

Aizo Group Bhd (KL:AIZO) has bagged a RM24.1 million sub-contract from China State Construction Engineering (M) Sdn Bhd (CSCE Malaysia) to undertake external infrastructure works for a high-rise residential project in Kuala Lumpur.

GuocoLand (M) Bhd's (KL:GUOCO) net profit more than halved to RM2.32 million in the first quarter ended Sept 30, 2024 (1QFY2025), from RM4.79 million a year earlier, as revenue fell on reduced contribution from the property development division.

The two-year contract will commence in December, said TCS, adding that it will fund the works via internally generated funds and borrowings.