News by Sangeetha Amarthalingam

Pelaburan Hartanah Bhd (PHB) continues to be on the lookout for suitable properties for possible injection into Amanah Hartanah Bumiputera (AHB) and to further increase its fund size, said its group managing director and chief executive officer Datuk Kamalul Arifin Othman.

S P Setia Bhd has confirmed its acting president and chief executive officer Datuk Khor Chap Jen as executive president and CEO, Datuk Wong Tuck Wai as deputy president and chief operating officer, and Choy Kay Yew as chief financial officer, effective April 1.

Malaysian Resources Corp Bhd (MRCB)’s Penang Sky Cab, a 4.8km cable car system first mooted by the state government in March last year to connect mainland Penang in Butterworth and Jelutong in Penang Island, is expected to begin construction in the first quarter of 2018 (1Q2018).

Sunway Construction Group Bhd (SunCon)'s subsidiary has been awarded a RM1.21 billion project by Mass Rapid Transit Corp Sdn Bhd (MRT Corp) to build a viaduct guideway and other associated works for the MRT Sungai Buloh-Serdang-Putrajaya Line (SSP Line).

Property developer Glomac Bhd said it plans to roll out RM627 million new launches in the second half of the financial year ending April 30, 2016 (2HFY16), where four out of the five planned projects are in the affordable landed residential segment.

In a bourse filing, SIB said it has received a notification for the compulsory acquisition of the land, measuring 1.35ha, in Sungai Buloh, Petaling district.

Property management service provider Ideal Sun City Holdings Bhd aims to secure three contracts worth up to RM40 million in total in the next six months, propelling its transfer to the Main Board on Bursa Malaysia in a year's time.

MRCB on Oct 6, 2015 completed the disposal of the stake in Nu Sentral to Pelaburan Hartanah Bhd for RM119.78 million cash, which generated a gain of RM70 million.

Hong Kong-listed Sino Haijing Holdings Ltd is investing RM280 million in Yong Tai Bhd under a corporate exercise and emerged as its new substantial shareholder with more than 33% of the voting rights.

Selangor Dredging Bhd (SDB) is proposing to develop 588 units of residential properties with a gross development value of RM450 million on two pieces of land it is acquiring in Ulu Klang, Selangor.