News by Myia S Nair

Contract manufacturer Ge-Shen Corporation Bhd (KL:GESHEN) announced on Wednesday that it is selling a plot of industrial land in Johor for RM7.6 million.

Civil and building construction firm Bina Puri Holdings Bhd (KL:BPURI) announced on Tuesday that its subsidiary Sumbangan Lagenda Sdn Bhd has completed the drawdown of its RM73 million credit financing facility from Islamic banking group MBSB Bhd (KL:MBSB).

The 22% rally in the unit price of IGB REIT since the start of the year has prompted analysts to downgrade the counter to “hold”, even after ascribing slightly higher fair value on the Mid Valley Megamall operator.

The contract was secured via its wholly owned Kitacon Sdn Bhd on Monday, which had accepted a letter of award from Tropicana Alam.

The property, which is an oil palm plantation, is currently categorised as agricultural land but is zoned for residential development. 

Engineering services provider AWC Bhd (KL:AWC) has bagged a RM9.4 million contract from the Melaka Public Works Department (JKRM) to provide facilities management and maintenance service for the immigration, custom, quarantine and security complex in Sungai Melaka.

Kerjaya Prospek Group Bhd (KL:KERJAYA) announced on Wednesday that its wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd had secured two new contracts from Pixel Valley Sdn Bhd and Greencove Sdn Bhd respectively, totalling RM34.4 million.

"With a significant 75% share within the JV, Gamuda’s share of the contract value is RM3.2 billion."

Analysts have maintained their positive stance on Scientex Bhd (KL:SCIENTX) after the group's core earnings came mostly within expectations for the financial year ended July 31, 2024 (FY2024).

This is on the back of competitive data centre construction cost and average electricity tariff, coupled with a supportive regulatory environment from streamlined approval processes to conducive framework for data centre operations.