News by Justin Lim

LBS Bina Group Bhd has exited its investment in Chinese motor circuit company Zhuhai International Circuit Ltd (ZICL) after more than a decade, as it sold its stake in Lamdeal Investments Ltd (LIL), which owns a 60% stake in ZICL, for 192.18 million yuan (RM124.74 million) cash.

Malayan United Industries Bhd (MUI) (KL:MUIIND) has secured a term loan facility of up to £152.5 million (RM912.16 million) from CF Hyde Park LP to refinance its existing term loan facility of its Corus Hyde Park Hotel in London, UK. 

UEM Sunrise Bhd (KL:UEMS) has disposed of its remaining 40% stake in a joint venture, Aura Muhibah Sdn Bhd (AMSB), to Kuala Lumpur Kepong Bhd (KL:KLK) as the latter exercised its call option.

Matrix Concepts Holdings Bhd (KL:MATRIX) announced that Datuk Hon Choon Kim has resigned as its independent and non-executive director, effective immediately.

Bursa Malaysia Bhd (KL:BURSA) said it is in final negotiations with the developer of The Exchange 106 at Tun Razak Exchange (TRX) to move its headquarters to TRX.

Trive Property Group Bhd (KL:TRIVE) has proposed a bonus issue of warrants on the basis of two warrants for every five existing shares, to reward its shareholders and strengthen its financial position and capital base.

Property developer Glomac Bhd’s net profit rose 8% to RM15.34 million for the fourth quarter ended April 30, 2024 (4QFY2024), from RM14.1 million a year ago, thanks to its recognition of RM17 million fair value gain on investment property.

Property developer YNH Property Bhd (KL:YNHPROP) has appointed UHY as a special independent reviewer to assess certain joint venture (JV) and turnkey contracts entered into by its unit, Kar Sin Bhd.

Mechanical and electrical services specialist Bintai Kinden Corp Bhd (KL:BINTAI) has secured two sub-contracts with a combined value of RM22.3 million to build double-storey houses in Muar, Johor.

S P Setia Bhd (KL:SPSETIA) says it has started pre-IPO (initial public offering) preparatory works to explore the establishment of a real estate investment trust that will have a diverse asset portfolio.