News by Yap Yan Qing

New MRT3 Circle Line construction tenders may begin by mid-2026, said MBSB Research, after MRT Corp’s fourth and final tender validity extension lapsed in March 2024.

Luxchem Corp Bhd (KL:LUXCHEM) is acquiring five leasehold industrial lands in Mukim Kapar, Klang, for RM45.59 million in cash, as part of its strategy to optimise surplus cash reserves by investing in income-generating real estate assets.

Abadi Malaysia Sdn Bhd, Kota Lanskap Sdn Bhd and Usia Maintenance Sdn Bhd were found to have infringed Section 4 of the Competition Act 2010 in six tenders collectively worth RM44.85 million put out in 2018 and 2021. 

The jobs are expected to contribute positively to the company’s revenue and earnings from FY2026 onwards.

Property developer Avaland Bhd (KL:AVALAND) plans to acquire a 2.17-acre plot of land in Section 13, Petaling Jaya, to undertake a high-rise commercial development with an estimated gross development value of RM320 million.

Genting Malaysia Bhd (KL:GENM) announced that a formal bid has been submitted for a casino licence in New York as part of a US$5.5 billion (RM23.19 billion) resort development in Queens.

Palm oil producer SD Guthrie Bhd (KL:SDG), formerly known as Sime Darby Plantation Bhd, and its sister company Sime Darby Property Bhd (KL:SIMEPROP) have entered into an agreement to jointly develop up to 2,000 acres of land on Carey Island, Selangor.

Advancecon Holdings Bhd (KL:ADVCON) said the group has issued a notice of adjudication to China Communications Construction (ECRL) Sdn Bhd (CCC) over a payment dispute relating to the East Coast Rail Link (ECRL) project.

A developer of data centres planned in the Johor-Singapore Special Economic Zone (JS-SEZ) has secured RM15 billion in financing from a group of lenders.

Binastra Corporation Bhd (KL:BNASTRA) on Wednesday said it has secured a contract worth RM268 million to build serviced apartments.