News by syafiqah Salim

Maxland Bhd (KL:MAXLAND) has scrapped two planned land leases in Kedah for a proposed data centre and district cooling system after revising its business strategy.

GuocoLand (Malaysia) Bhd (KL:GUOCO) slipped into its first quarterly net loss in four years despite a higher revenue, mainly due to a RM7.2 million inventory write-down for its PJ City project.

The potential sale of Marina One, a mixed-use development in Singapore owned by M+S Pte Ltd, is said to have attracted bidders including CapitaLand Group and Hongkong Land Holdings Ltd, international news wires Bloomberg reported.

Landmarks Bhd (KL:LANDMRK) said its external auditor KPMG PLT has issued an unqualified opinion with a material uncertainty related to the group’s ability to continue as a going concern.

KLCCP Stapled Group (KL:KLCC), controlled by Petroliam Nasional Bhd, said rising cost pressures may weigh on its retail and hotel segments this year amid heightened economic uncertainty from prolonged Middle East tensions.

Samchem Holdings Bhd (KL:SAMCHEM), an integrated chemicals and lubricants distributor, is leasing industrial land in Johor Bahru to build a bulk liquid storage terminal to expand capacity.

SGX Mainboard-listed InnoTek Ltd has committed S$5 million (RM15.5 million) to a new manufacturing facility in Melaka, which is slated to begin operations this year as the company looks to strengthen its presence in Southeast Asia.

IOI Properties Group Bhd (KL:IOIPG) extended its rally to new highs on Wednesday as investors kept piling into bets of potential asset spin-offs by the property developer.

Rizal, 55, was previously group CEO of UKM Holdings Sdn Bhd, an investment and commercial arm of Universiti Kebangsaan Malaysia, where he oversaw businesses spanning investment holdings, healthcare, consulting and real estate.

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.