News by Lam Jian Wyn

Its wholly owned subsidiary Optimal Property Management Sdn Bhd has accepted an interim settlement proposal (ISP) with Kolej Teknologi Islam Melaka Bhd (KTIMB) over its default and outstanding debts of RM58.9 million.

Berjaya Land Bhd's (BLand) net profit for the first quarter ended Sept 30, 2023 (1QFY2024) rose more than four-fold to RM36.87 million from RM8.45 million a year ago, its Bursa Malaysia filing on Tuesday showed.

IOI Properties Group Bhd's share price fell 6.36% or 11 sen to an intra-morning low of RM1.62 after it reported a 72.8% decline in its net profit for the first quarter ended Sept 30, 2023 (1QFY2024), owing to an absence of a substantial fair value gain compared with a year ago.

CGS-CIMB has a 'double overweight' recommendation on the construction sector, owing to its higher confidence in the government's policy continuity.

Knusford Bhd’s share price shot up by 18 sen or 25.17% to 89.5 sen in Friday morning trade, its highest since April 21, 2021, after its major shareholder Tan Sri Lim Kang Hoo proposed to combine his stable of companies under an enlarged Ekovest Bhd.

Berjaya Land Bhd (BLand) was among the most actively traded stocks on Bursa Malaysia on Wednesday morning, after its rail arm Berjaya Rail Sdn Bhd announced the appointment of Tunku Tun Aminah Sultan Ibrahim Ismail, the daughter of the sultan of Johor, as its chairperson.

The 30-year lease on the buildings to KYSA Education Sdn Bhd, which started on June 22, will be novated to MTrustee upon completion of the deal via a deed of novation between the lessee, trustee and vendor.

Malaysia Building Society Bhd (MBSB) reported a net profit of RM83.7 million for the second quarter ended June 30, 2023 (2QFY2023), a decline of 41.18% from RM142.3 million a year ago.

Bursa Securities has rejected Top Builders Capital Bhd's revised request for an extension of time to submit its regularisation plan by Dec 29 to the relevant authorities.

More catalytic developments will likely shift to the vicinity of the Malaysia-Singapore Second Link as there is more land and well-developed infrastructure and connectivity, said RHB Research in a note on Monday (Aug 28).