News by Luqman Amin

Inta Bina Group Bhd (KL:INTA) has secured another construction contract from Sime Darby Property Bhd (KL:SIMEPROP) worth RM96.55 million to undertake main building and construction works for a 37-storey serviced apartment project in Putra Heights, Selangor.

Facilities and waste management services company AWC Bhd (KL:AWC) has received a letter of award worth RM19.9 million sub-contract from Gamuda Engineering Sdn Bhd for construction works related to a data centre project in Rawang, Gombak.

Property developer Avaland Bhd (KL:AVALAND) reported a near doubling of its net profit for its second quarter ended June 30, 2024 (2QFY2024), thanks to better work progress and higher take-up rates.

Construction firm Kerjaya Prospek Group Bhd, which posted a 15.83% increase in net profit to RM70.64 million in the first half of this year (1HFY2024), is anticipating stronger construction activities in the second half of the year that will further drive its growth.

Eastern & Oriental Bhd (KL:E&O) is bullish on the Penang market, where it is based, and anticipates better property sales in its current financial year ending March 31, 2025 (FY2025).

The project is scheduled for completion within 38 months.

TSH Resources Bhd’s (KL:TSH) land sales, which would have fetched roughly 2.43 trillion Indonesian rupiah (RM731.09 million), in North Kalimantan have been downsized to RM447.17 million.

German semiconductor giant Infineon Technologies AG will invest an additional €5 billion (RM30.1 billion) in constructing the world’s largest 200-millimetre silicon carbide power fabrication plant in Kedah.

Johor-based developer Paragon Globe Bhd (KL:PGLOBE) is selling more of a big plot of freehold land it had just bought in Plentong, Johor Bahru, to Bridge Data Centres Malaysia IV Sdn Bhd.

Tourism-related property developer Yong Tai Bhd (KL:YONGTAI) said on Wednesday that it is selling its five-star hotel Courtyard by Marriott Melaka for RM160 million.