News by Kang Siew Li

Pelaburan Hartanah Bhd (PHB), a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB), has appointed Mazuki Abdullah @ Muhammad as its new group managing director, effective Jan 1, 2026.

Atlan Holdings Bhd's (KL:ATLAN) 75.53%-owned subsidiary Duty Free International Ltd (DFIL) (5SO.SI), which is listed on the Singapore Exchange, said it is not satisfied with the RM69.9 million compensation for two pieces of land in Bukit Kayu Hitam, Kedah, that Malaysia's Ministry of Home Affairs (KDN) has compulsorily acquired for a road construction project.

The reason Fajarbaru Builder Group Bhd (KL:FAJAR) pulled out from participating in the affordable housing development in Putrajaya dubbed Residensi Cemara, which is estimated to have a gross development value of RM192 million, was that it had deemed the project "not sustainable" following a change in requirements.

Property developer IGB Bhd (KL:IGBB) plans to raise up to RM5 billion by establishing a medium term note (MTN) programme to finance the general corporate purposes of the group.

The issue price represents a discount of 14.89% to the five-day weighted average market price of Southern Steel shares of 49.35 sen as at Sept 10.

Integrated infrastructure developer YTL Corp Bhd's (KL:YTL) net profit for its fourth financial quarter ended June 30, 2024 (4QFY2024) slipped 2.5% to RM534.48 million from RM548.03 million a year earlier on lower revenue.

"The company would like to remind all shareholders and potential investors that there is no assurance that the SGX will approve the exit application."

IGB Commercial Real Estate Investment Trust's (KL:IGBCR) (IGB Commercial REIT) net property income (NPI) rose 10.8% to RM34.45 million in the second quarter ended June 30, 2024 (2QFY2024) from RM31.11 million a year earlier, on higher rental income in the current quarter.

Property developer UEM Sunrise Bhd said it will file an appeal with the High Court here after the Special Commissioners of Income Tax ruled in favour of the Inland Revenue Board (IRB) that the additional tax and penalty totalling RM73.84 million are to be maintained.

Integrated logistics solutions provider Tasco Bhd (KL:TASCO) plans to invest an additional RM400 million from now to 2026 to expand its warehouse capacity.