News by THEEDGEMARKETS.COM

Bank Negara Malaysia (BNM) has raised the overnight policy rate (OPR) by 25 basis points (bps) to 3%, as the central bank believes the global economy continues to be driven by resilient domestic demand.

Roads closed due to construction work will be reopened soon to reduce traffic congestion in the Klang Valley, according to Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi.

Brem Holdings Bhd has ceased to be a substantial shareholder in Titijaya Land Bhd, after its 48.33%-owned unit Titi Kaya Sdn Bhd disposed of 7.7 million shares in the property developer.

Mulpha International Bhd has secured a A$160 million (RM478 million) green syndicated construction facility in Australia.

DCSB claimed for costs and expenses incurred for the delayed completion of the project. The claims included loss of profits, reputation, and general damages for breach of contract.

So far, this is the largest group of plaintiffs suing ACE Holdings.

According to Bloomberg as of Tuesday afternoon, 16 out of 18 economists said BNM will keep the OPR at 2.75% — a rate unchanged since November last year.

He had offloaded 50 million shares equivalent to a 10.2% stake via a direct business transaction on April 28 for 13 sen apiece. 

Liew first joined the property development company in March 2019 as a special officer to the group managing director.  

The construction engineering company has 12 months to regularise its financial condition, failing which trading in its securities could be suspended and it could be delisted from Bursa Malaysia.