News by Sulhi Azman

The initial public offering (IPO) will facilitate Inta Bina with greater financial flexibility to pursue future growth opportunities and enhance its reputation in the marketing of its construction services to expand its customer base in Malaysia, the group said.

The share consolidation plan, said Mulpha, will be done on the basis of 10 existing shares for one consolidated share, which will see its share capital reduced to 319.62 million from 3.196 billion currently.

IOI Properties said it received valid applications for 1.51 billion rights shares over the total amount of 1.1 billion rights shares available for subscription.

Sunway Construction Group Bhd confirms that its subsidiary Sunway Construction Sdn Bhd (SCSB) has bagged a construction job from intercity railway operator Mass Rapid Transit Bhd (MRT) worth RM212.3 million.

Mass Rapid Transit Corp Sdn Bhd (MRT Corp) has awarded work packages worth a total of RM2.74 billion to four companies for the MRT2 construction.

Iskandar Waterfront City Bhd (IWC) shares, which resumed trading yesterday following the announcement that it is merging with its parent Iskandar Waterfront Holdings Bhd (IWH), climbed as much as 10.4% before paring some of the gains to settle at RM1.76 — still up 12 sen or 7.32% compared with its last traded price last Friday.

Iskandar Waterfront Holdings Sdn Bhd (IWH) says its Bandar Malaysia land is also included in the corporate exercise announced yesterday which involves the group merging with Iskandar Waterfront City Bhd (IWC).

Its property investment and development segment also registered a 19% decline in PBT.

The project comprises 1,632 units of small office home office and 32 shoplots, said Mercury Industries in a filing.

Revenue also dropped 48.1% to RM44.71 million in 4QFY2016, from RM86.1 million in 4QFY2015, due to lower revenue from the building materials division.