News by Jazlin Zakri

Construction firm MGB Bhd (KL:MGB) has bagged a RM34.76 million contract to build residential units in Jeddah, Saudi Arabia.

Muhibbah Engineering (M) Bhd (KL:MUHIBAH) said it has secured a subcontract worth RM120 million from Gamuda Industrial Building System Sdn Bhd under the Penang LRT Mutiara Line project.

Property outfit Axteria Group Bhd (KL:AXTERIA) said it has proposed to acquire an 80% stake in Niaga Sari Sdn Bhd (NSSB) for RM35 million in cash, as part of efforts to strengthen its construction capabilities and support its property development activities.

Mayu Global Group Bhd (KL:MAYU) has acquired the remaining 20% stake in property arm Sunrise Manner Sdn Bhd (SMSB), making it a wholly-owned subsidiary.

The group announced that non-independent non-executive director Dr Lim Pang Kiam and executive director Lee Hai Peng tendered their resignations, effective immediately.

Binastra Corp Bhd (KL:BNASTRA) is in a favourable position to secure subsequent phases of its recent Subang Sentral contract win, potentially adding RM600 million to RM700 million to its order book due to its position as the main contractor, according to analysts.

Kan said the majority of Adnex’s materials and supplies are sourced domestically and from China.

Widad Group Bhd (KL:WIDAD) said the group is appealing against the High Court’s dismissal of its application to set aside an adjudication decision relating to payments claims linked to the Langkasuka development in Langkawi.

Wawasan Dengkil Holdings Bhd (KL:DENGKIL) announced that it secured a RM24.8 million subcontract for external works at a hyperscale data centre project in Puncak Alam, Selangor.

Property developer JRK Holdings Bhd is seeking a listing on the ACE Market to raise funds for working capital and future expansion.