News by theedgemalaysia.com

A bid by the former operator of Kuala Lumpur Tower to institute contempt proceedings against Communications Minister Datuk Fahmi Fadzil and others was tossed out of court on Monday.

Ho Hup Construction Co Bhd (KL:HOHUP), which slipped into Practice Note 17 (PN17) status earlier in April, has defaulted on revolving credit facilities from AmBank Islamic Bhd amounting to RM45.3 million.

Gadang Holdings Bhd (KL:GADANG) announced it will allocate about RM19 million in additional costs for the financial year ending May 31, 2025 (FY2025), following the termination of an agreement to jointly develop a parcel of land in the Cyber 9 precinct of Cyberjaya with Cyberview Sdn Bhd.

Mitraland Group founder Chuah Theong Yee has ceased to be a substantial shareholder in steel products maker Eonmetall Group Bhd (KL:EMETALL).

The Malaysian Anti-Corruption Commission (MACC) will apply to forfeit the 60-storey Ilham Tower, worth about a billion ringgit, owned by the late Tun Daim Zainuddin’s family, a report says.

Pavilion Real Estate Investment Trust (KL:PAVREIT) raised about RM360 million from a private placement of shares priced at RM1.40 per unit.

Toh Puan Na'imah Khalid, widow of the late former finance minister Tun Daim Zainuddin, will immediately challenge the Malaysian Anti-Corruption Commission’s (MACC) second seizure of Ilham Tower in court, said her lawyers.

Econpile Holdings Bhd (KL:ECONBHD) has secured a RM42.82 million subcontract to undertake piling works for the Mutiara Line light rail transit (LRT) project in Penang.

The High Court has fixed next Monday (June 9) to deliver its decision on whether to grant leave (permission) to the former operator of KL Tower to initiate proceedings against eight individuals and entities, including the government, for committal.

Property developer Paramount Corp Bhd (KL:PARAMON) is keeping invested in Eco World International Bhd (KL:EWINT), in which it bought a 21.45% stake last year to speed up its overseas expansion, despite EWI’s recent decision to shift its focus to the Malaysian property market instead.