News by Surin Murugiah

In its September Central Bank Watch note released on Wednesday (Aug 31), UOB said that besides internal factors, expected outsized US Federal Reserve rate hikes in the coming months and global monetary conditions would also be taken into consideration by Malaysia's central bank in its September meeting.

UMW Group is disposing of 140 acres (56.66 hectares) of land at the UMW High Value Manufacturing Park (UMW HVM Park) in Serendah to LONGi (Kuching) Sdn Bhd for RM304.92 million.

Sunway Construction Group Bhd's (SunCon) net profit for the second quarter ended June 30, 2022 (2QFY22) jumped threefold to RM32.3 million from RM8.32 million a year earlier, due to a low base and higher revenue from all segments.

Matrix Concepts Holdings Bhd's net profit for the first quarter ended June 30, 2022 (1QFY23) jumped 48.44% to RM47.03 million from RM31.69 million a year ago, on the back of a 40.3% growth in revenue to RM229.3 million from RM163.4 million.

Hong Leong IB (HLIB) Research has downgraded Sentral REIT to “hold” at RM1.01 with a lower target price (TP) of 91 sen (from 99 sen) and said Sentral REIT recorded 2QFY22 core net profit of RM18.5 million (-9.4% q-o-q; -2.3% y-o-y) and 1HFY22 core net profit of RM38.8 million (-2% y-o-y).

MIDF Research has maintained its “positive” rating of the construction sector, with encouraging developments seen in Sarawak.

MIDF Research has maintained its “Neutral” rating on property sector and said it sees near-term outlook for property sector to remain unexciting due to the oversupply concern.

Tenaga Nasional Bhd (TNB) said on Wednesday (July 27) that the goverment-controlled utility had at 3.02pm fully restored electricity supply in areas across Peninsular Malaysia affected by a power outage since 12.39pm, due to a damaged equipment within the main power intake substation in Yong Peng, Johor.

Tenaga Nasional Bhd (TNB) said there are currently power outages in several areas.

MK Land founder Tan Sri Mustapha Kamal Abu Bakar has passed away.