News by Wong Ee Lin

The bulk of the cash call proceeds are intended to be used to fund part of the land cost and development expenditure of the proposed JV.

With the progressive completion of its London City Island project.

"Recently, we see stronger bookings compared to the past two years. It looks like there is a sign of recovery," said its deputy group managing director Lim Poh Yit after the company's extraordinary general meeting today.

Kumpulan Jetson Bhd has received a letter from MCC Overseas (M) Sdn Bhd wherein the latter purported to unilaterally rescind the award of a RM919.3 million subcontract to undertake main building works for a mixed commercial project on Jalan Conlay.

Eversendai Corp Bhd fell as much as 6.98% at mid-morning today, on possible profit taking on the counter.

Sime Darby Bhd is selling New Lunderston Estate, a freehold tract measuring 297.51 acres, in Selangor for RM85.53 million cash.

Ikhmas Jaya Group Bhd rose 3.57% today, after it had bagged a RM36 million contract for works at the proposed Setia City Mall Phase 2 retail development in Selangor yesterday.

This marks its third profitable quarter in a row, after the group returned to the black in 1QFY17. 

This is due to strong order book, keeping group busy until 2019.

Mah Sing Group Bhd plans to increase its Klang Valley land bank from the current 65% to 75% in the next two to three years.