News by theedgemalaysia.com

LBS Bina Group Bhd has exited its investment in Chinese motor circuit company Zhuhai International Circuit Ltd (ZICL) after more than a decade, as it sold its stake in Lamdeal Investments Ltd (LIL), which owns a 60% stake in ZICL, for 192.18 million yuan (RM124.74 million) cash.

Sabah-based integrated property developer KTI Landmark Bhd (KL:KTI) made a lacklustre debut on Bursa Malaysia on Wednesday, becoming the third company so far this year to close below the initial public offering (IPO) price on the first trading day.

Binastra Corp Bhd (KL:BNASTRA) said on Wednesday that it had secured an RM331.7 million contract to construct a residential apartment complex in Kota Kinabalu, Sabah.

Seremban-based property developer Matrix Concepts Holdings Bhd (KL:MATRIX) has inked a second joint venture (JV) with NS Corp to develop new prime land in Malaysia Vision Valley 2.0 (MVV2.0) into a sustainable township in a deal worth RM435.6 million.

Iskandar Investment Bhd (IIB), the master developer of Iskandar Puteri, has partnered with TM-Nxera via River Retreat Sdn Bhd to develop a digital infrastructure with an approximate investment value of RM9 billion at Medini, Iskandar Puteri, Johor.

Sabah-based integrated property developer KTI Landmark Bhd (KL:KTI), which was listed on Wednesday, said it plans to launch two new residential projects in Sabah by 2028, with a combined gross development value (GDV) of RM599.6 million.

Malayan United Industries Bhd (MUI) (KL:MUIIND) has secured a term loan facility of up to £152.5 million (RM912.16 million) from CF Hyde Park LP to refinance its existing term loan facility of its Corus Hyde Park Hotel in London, UK. 

Malaysia has emerged as the top three country in Asia for outbound cross-border property investment after Mainland China and Hong Kong, according to Juwai IQI Holdings’ Asia-Pacific Cross-Border Residential Property Buying Trends Report 1Q2024 that was issued on Tuesday.

UEM Sunrise Bhd (KL:UEMS) has disposed of its remaining 40% stake in a joint venture, Aura Muhibah Sdn Bhd (AMSB), to Kuala Lumpur Kepong Bhd (KL:KLK) as the latter exercised its call option.

Matrix Concepts Holdings Bhd (KL:MATRIX) announced that Datuk Hon Choon Kim has resigned as its independent and non-executive director, effective immediately.