News by John Lai

Kerjaya Prospek Property Bhd (KL:KPPROP) has proposed a rights issue of shares and redeemable convertible unsecured loan stocks (RCULS) to raise up to RM147.18 million, mainly to fund property development projects and repay loans.

Electronic circuit board maker and property company GUH Holdings Bhd (KL:GUH) has announced its acquisition of 27.22 hectares of land in Semenyih for RM71.76 million.

Property developer Symphony Life Bhd (KL:SYMLIFE) has named Datuk Kenneth Vun Yun Liun as its new managing director.

ITMAX System Bhd (KL:ITMAX) has secured a RM30.24 million contract from the Pengerang Municipal Council (MPP) in Johor to implement smart surveillance systems.

UK-based investment company Aberdeen Group plc, formerly known as Abrdn plc, has become a substantial shareholder in Eastern & Oriental Bhd (KL:E&O) after increasing its stake to 5.047%, representing 125.66 million shares.

Crest Builder Holdings Bhd (KL:CRESBLD) has proposed a private placement of up to 30% of its share base to raise RM24.3 million to pay for borrowings and purchase building materials.

Luxury retailer Bonia Corporation Bhd (KL:BONIA) said it is raising its stakes in a property investment subsidiary and an associate operating seafood restaurant for a combined RM13.16 million.

Nestlé (Malaysia) Bhd (KL:NESTLE) on Friday broke ground for a RM250 million integrated logistics hub in Port Klang.

Malaysian property developers are optimistic that demand will pick up in the second half of the year, while staying cautious about rising costs of doing business ahead, according to an industry survey.

The seven-storey shopping mall covers an approximate area of 92,712 sq ft, including a lower ground floor and four levels of basement car park with 786 car park bays.