News by Sulhi Khalid

PRG Holdings Bhd group executive vice chairman Datuk Lua Choon Hann has ceased to be a substantial shareholder of the group after he disposed of another 955,600 shares or a 0.22% stake, between Jan 5 and 9. 

Lim Seong Hai Capital Bhd (LSH Capital), which is seeking a transfer from the LEAP Market to the ACE Market of Bursa Malaysia, has obtained undertaking letters from its minority shareholders to waive their entitlement to an exit offer.

Crescendo Corp Bhd saw its net profit for the third quarter ended Oct 31, 2023 (3QFY2024) rose by 270% to RM17.97 million, compared with RM4.86 million a year earlier, underpinned by higher properties sales compounded with high-margin industrial land sale.

Ekovest Bhd is teaming up with Zhejiang Communications Investment Group Co Ltd (CICO), the largest state-owned enterprise established by the Zhejiang provincial government in China, for the joint exploration and development of infrastructure and other projects in Malaysia.

The renewable energy group said its wholly owned indirect subsidiary, Vafe System Sdn Bhd, is buying the additional stake for RM6 million.

Property development and construction group Jiankun International Bhd is acquiring 99.99% equity interest in Penang-based Oriental Link Properties (M) Sdn Bhd (OLPSB) from the privately held property development company's two directors Lee Khoon Eng and Lee Phaik Choo for RM9.5 million.

Oriental Interest Bhd has entered into a deal with TTDI Land Sdn Bhd to jointly develop 54.55 acres of land in Klang into commercial and residential units.

Impiana Hotel Bhd has changed its company name to Magma Group Bhd effective immediately, its Bursa Malaysia filing on Friday showed.

Tower Real Estate Investment Trust (Tower REIT) has proposed a rights issue to raise gross proceeds of up to RM66 million to repay its bank borrowings and refurbish its existing properties.

Chin Hin Group Bhd’s conditional mandatory general offer (MGO) to acquire the remaining shares it does not own in Ajiya Bhd has turned unconditional after its collective shareholding — together with persons acting in concert with it — climbed past 50%.