News by Supriya Surendran

Mohanachandran, 56, will replace Lau Shu Chuan, 56, who will relinquish his position as group CEO with effect from Feb 1, according to MK Land's bourse filings today.

Genting had bought in 2011 the US$236 million (RM1.05 billion) bayfront property which was once owned by the Miami Herald.

IWH CREC is a 60:40 joint venture between Iskandar Waterfront Holdings Sdn Bhd and China Railway Engineering Corp (CREC).

Bank Negara Malaysia's decision today on the overnight policy rate (OPR) is a toss-up between the country's inflation rate and the risk of capital outflows, said Standard Chartered Bank Malaysia Bhd.

Master Builders Association Malaysia (MBAM) expects a RM2 billion per annum impact to the construction industry, in particular contractors, due to the change in foreign worker levy policy by the government.

Iris Corp Bhd saw its share price fall as much as 13% to an intraday low of 10 sen yesterday, after its co-founder and major shareholder sold a substantial stake in the group.

Iris Corp Bhd group managing director and chief executive officer Datuk Tan Say Jim has ceased to be a substantial shareholder of the company after disposing of 56.6 million shares via a direct business transaction.

The disposal of the plots, measuring 677.78ha in total, will unlock value for the group, said Boustead Plantations vice-chairman Tan Sri Lodin Wok Kamaruddin.

In a filing with Bursa Malaysia today, S P Setia said its wholly-owned subsidiary Setia Recreation Sdn Bhd had entered into a sale and purchase agreement with Boustead Plantations for the proposed acquisition.

Ekovest managing director Datuk Seri Lim Keng Cheng said at present, 30% of the components used to produce steel bars for the group are imported.