News by Luqman Amin

The Ministry of Transport (MOT) said it will initiate action through the Land Public Transport Agency (APAD) against Malaysia Airports Holdings Bhd (MAHB) following a series of repeated technical failures involving the Kuala Lumpur International Airport (KLIA) aerotrain system.

Minister in the Prime Minister’s Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa told Parliament there was no official consent threshold in place when the Kampung Sungai Baru redevelopment project was approved in 2020.

The government on Thursday said it had no role in choosing the developer for the Kampung Sungai Baru redevelopment project—the decision was made entirely by the residents, Parliament was told.

A special ministerial briefing on the redevelopment of Kampung Sungai Baru will be held in the Dewan Rakyat on Thursday, Oct 9.

Property developer Meridian Bhd (KL:MERIDIAN), a Practice Note 17 company, has secured a RM40.5 million contract for a government-backed civil servants’ housing project in Kuala Muda, Kedah.

Sunway Bhd’s (KL:SUNWAY) acquisition of Hongkong Land (MCL) Holdings Ltd [MCL] will more than double its total project value in Singapore to RM15.3 billion.

DXN Holdings Bhd (KL:DXN) said its proposed acquisition of an apartment unit at the Burj Khalifa skyscraper in Dubai is part of the multi-level marketing company's sales motivation scheme aimed at rewarding top-performing distributors.

Econpile will undertake bored piling construction and associated works for the Komtar-East Jelutong stretch of the LRT line. 

Tropicana Corp Bhd (KL:TROP) has redeemed another tranche of its sukuk wakalah programme worth RM100 million that matured on Wednesday. 

Construction firm Inta Bina Group Bhd (KL:INTA) on Wednesday secured a RM212.34 million contract from Sime Darby Property Bhd (KL:SIMEPROP) for the construction of a condominium project in Setapak, Kuala Lumpur.