News by John Lai

Classita Holdings Bhd (KL:CLASSITA), which is set to be renamed NexG Bina Bhd, clarified on Thursday that the proposed selling price for its 49% stake in its lingerie business is not fixed at RM34.1 million, contrary to earlier reports.

Sunway Bhd (KL:SUNWAY) and its local partner have secured another residential site in Chuan Grove, Singapore after submitting the best bid at S$623.91 million (RM2.05 billion).

NexG bought a 32.61% stake in Classita for RM76.78 million, targeting its loss-making property and construction business, which includes a CIDB G7-certified unit able to handle large, complex construction projects. 

Cash-rich industrial chemical firm Luxchem Corporation Bhd (KL:LUXCHEM) is acquiring three plots of land in Klang for RM40.55 million to be developed in the future.

Parkson Holdings Bhd (KL:PARKSON) said that its 54.97%-owned Hong Kong-listed subsidiary Parkson Retail Group Ltd (PRG) has inked a 20-year agreement to lease 4,801 sq m of commercial space in Mianyang City in China’s Sichuan province.

Avillion, which has been loss-making for the past decade, said it has already begun implementing some of these initiatives and remains committed to navigating the challenging operating environment.

The EPF had been gradually paring down its holdings since July 10.

Chin Hin Group Bhd (KL:CHINHIN) is disposing of its subsidiary Metex Steel Sdn Bhd, which specialises in steel welded mesh and wire products, for RM70 million. The all-cash transaction is expected to yield a gain of RM6.1 million for the group.

Avillion Bhd (KL:AVI) on Thursday said it external auditor has flagged uncertainty over the hotel operator's ability to continue as a going concern in the group’s audited financial statements for the year ended March 31, 2025 (FY2025).

Tycoon Tan Sri Quek Leng Chan is no longer a substantial unitholder of AME Real Estate Investment Trust (KL:AMEREIT) following the disposal of 5.5 million units, equivalent to a 1.04% stake, by his investment vehicle Hong Leong Assurance Bhd (HLA).