News by Sulhi Khalid

In a Bursa Malaysia filing on Friday (Jan 14), the construction group said the proposed acquisition will provide AZRB with the opportunity to utilise the industrial land to further expand its in-house production of precast concrete components as well as to serve as a store or depot for the group.

The counter is currently classified under the technology sector.

“Chin Hin's decision to increase its shareholdings in Solarvest is due to Solarvest’s prominent future earnings prospect and strong outstanding order books in the solar energy business.

The construction and property group said the project entails the development of 100 affordable houses and six single-storey shop lots on 11.55 acres of government land.

In a Bursa Malaysia filing on Monday (Dec 6), the group said the proposed acquisition will be funded by cash via internally generated funds and/or bank borrowings.

IOI Corp Bhd has stressed that it has no link with the non-fungible token (NFT) IOI Token as well as any other online investment schemes, the group said in an email reply to The Edge on Monday (Nov 29).

Compared to the preceding quarter, the group’s net profit increased 49.3% from RM6.13 million. 

Its quarterly revenue, however, increased slightly by 3.68% to RM1.07 billion from RM1.03 billion. 

"The spirit of the tax (Prosperity Tax) is supposed to look at companies that have performed exceptionally well," said Deloitte Asia Pacific Tax Partner, Mark Chan.

“The VTLs are another important milestone in the long-standing Malaysia-Singapore cooperation."