News by Syafiqah Salim

The Housing and Local Government Ministry (KPKT) said it is planning the setting up of escrow accounts for housing projects, in order to ensure payments by homebuyers are used exclusively for housing projects that they have bought.

The contract for the Package 4B spans Bukit Pagon to Long Luping under the second phase of the Sarawak-Sabah Link Road project.

Johor-based property developer Paragon Globe Bhd (KL:PGLOBE) said it has entered into a deal to undertake its first serviced apartment project in Johor Bahru, with an estimated gross development value (GDV) of RM1.49 billion.

The proposed development of a port city on Carey Island could significantly boost the land value of SD Guthrie Bhd (KL:SDG), formerly known as Sime Darby Plantation Bhd, over time to the tune of RM7.1 billion, according to Maybank Investment Bank (Maybank IB).

Shares of construction and property group WCT Holdings Bhd (KL:WCT) plunged to their lowest in one month, after the stock exchange suspended intraday short-selling activities of the stock on Monday morning.

Avillion Bhd’s (KL:AVI) external auditor has flagged material uncertainty that would affect the hotel-and-travel company’s ability to continue as a going concern.

US data centre company Equinix Inc announced on Monday, a RM23 million investment to acquire land in Cyberjaya, Selangor, to expand its data centre capacity.

Property developer Ecofirst Consolidated Bhd (KL:ECOFIRS) said on Monday its net profit for the fourth quarter more than doubled from a year earlier thanks to higher sales conversion rate for the KL-48 project.

SC Estate Builder Bhd (KL:SCBUILD) is forming a consortium to bid for projects with a total capacity of 2,000 megawatts (MW) under the fifth large-scale solar programme (LSS5).

Industrial space solutions provider AME Elite Consortium Bhd (KL:AME) plans to launch the 176-acre Northern TechValley industrial park in Penang, with a gross development value (GDV) of RM1 billion, in the second half of 2024 (2H2024).