News by Syafiqah Salim

Property group Ideal Capital Bhd (KL:IDEAL) has proposed to undertake a bonus issue of one billion shares on the basis of two new shares for every one share held.

Crescendo’s quarterly revenue increased 16% to RM82.44 million from RM71.06 million due to stronger contributions across all segments; namely property development and construction, manufacturing and trading, property investment, services and others. 

Crest Builder Holdings Bhd (KL:CRESBLD) has secured two construction contracts worth a combined RM513 million, lifting its outstanding order book to a record RM2 billion.

Paramount Corp Bhd (KL:PARAMON) is acquiring a 3.7-acre freehold commercial land parcel along Jalan Ampang from IOI Properties Group Bhd (KL:IOIPG) for RM257.9 million, which it plans to develop into two blocks of high-end serviced apartments with an estimated gross development value (GDV) of RM1.1 billion.

One of the country’s largest fund managers said on Monday in a statement that its board investment committee considered IJM’s intrinsic value versus the RM3.15 offer price and the potential future gain from the Sunway shares to be issued, relative to their issuance price.

Paramount Corp Bhd (KL:PARAMON) is aiming for higher property sales this year and is confident that its margins will withstand cost pressures amid Middle East tensions.

Sunway Bhd (KL:SUNWAY) will walk away from its proposed takeover of IJM Corp Bhd (KL:IJM) if the construction group’s shareholders do not accept the offer by the early April deadline.

Sunway Healthcare Holdings Bhd (SHH) is exploring opportunities to expand to Southeast Asian nations as part of its longer-term regional growth strategy, said executive chairman Tan Sri Dr Jeffrey Cheah.

Kerjaya Prospek Group Bhd (KL:KERJAYA) is exploring new industrial park opportunities as it looks to expand beyond its proposed joint venture in Penang a unit of the Retirement Fund Inc (KWAP), said executive chairman and major shareholder Datuk Seri Tee Eng Ho.

The Residential Tenancy Act (RTA) is in its final stage of drafting and is expected to be tabled this year, Housing and Local Government Minister Nga Kor Ming said.