News by Kamarul Azhar

Johor Land Group Sdn Bhd (JLG), the property arm of Johor Corporation, launched a 7,290 acres technology park in Sedenak, Kulai, some 50km to the north of the city centre of Johor Baru and 70km from Singapore.

Johor launched on Saturday the 3,200-acre Maharani Freeport in Muar as a three-island deep-water free zone, designed to serve regional oil and gas activities along the Strait of Malacca.

Crescendo Corporation Bhd (KL:CRESNDO) said on Friday that it has entered into an agreement with MSFusion Sdn Bhd for the disposal of freehold industrial land in Kota Tinggi, Johor, for RM263.2 million.

Colform Group Bhd’s upcoming debut on the ACE Market of Bursa Malaysia Securities has received the nod from the capital market operator, the steel and building material specialist based in Kota Kinabalu said.

The net profit of YTL Corp Bhd (KL:YTL) fell by more than a third in the first quarter of its financial year, as contributions from its utilities business, represented by its 55.57% stake in YTL Power International Bhd (KL:YTLPOWR) declined.

Vizione Holdings Bhd (KL:VIZIONE) said its unit has served a notice to Inspirasi Langkawi Sdn Bhd to terminate its employment as main contractor for the development of a 14-storey hotel in Langkawi, claiming it had not been properly paid for its works so far.

Construction outfit and property development and hospitality management group NCT Alliance Bhd (KL:NCT) plans to acquire a 51% equity interest in Setara Juara Sdn Bhd, which holds the development rights to about 101.037ha or 249.67 acres of land in Putatan, Sabah.

Bina Darulaman Bhd (KL:BDB) has announced the resignation of Messrs KPMG PLT as its external auditor.

Higher rental income helped IGB Real Estate Investment Trust (IGB REIT) record a 9.99% increase in net property income (NPI) to RM111.29 million for the third quarter ended Sept 30, 2023 (3QFY2023), from RM101.19 million a year earlier.

The Penang South Island (PSI) reclamation project, which has been scaled down from three islands to one following a request from the prime minister, will finally kick off with Gamuda Bhd starting Phase 1 of the reclamation works worth RM3.717 billion on July 1.