News by theedgemalaysia.com

Transport Minister Anthony Loke Siew Fook has reiterated that there will be no compromise in enforcing laws against overloaded lorries, despite appeals from industry groups for leniency due to higher operating costs.

The Ministry of Housing and Local Government is reviewing the Housing Development (Control and Licensing) Act 1966 to impose stricter actions on blacklisted developers for abandoned housing projects, including possible travel bans for their directors.

Just 10 days into the Transport Ministry’s crackdown on overloaded lorries, construction groups have warned that the move could delay project deliveries, disrupt budgets and slow key housing and infrastructure projects under the 13th Malaysia Plan (13MP).

Ho Hup Construction Co Bhd’s (KL:HOHUP) founding Low family has ceased to be a substantial shareholder in the company amid a boardroom tussle.

Mudajaya said that it had secured an order of specific performance for developer Crest Worldwide Resources Sdn Bhd to deliver vacant possession of the properties from the High Court under the civil suit on Oct 22.

Sunway said the term loan facility will raise its gross borrowings to RM12.78 billion from RM10.91 billion as of end-December 2024, while net borrowings are expected to rise to RM8.45 billion from RM6.57 billion. 

Kedah-based developer Aman Setia Group has secured GCH Retail (Malaysia) Sdn Bhd as the anchor tenant of its Aman Parc township, with plans to build and lease a Giant supermarket under a 15-year agreement involving a total investment of RM10 million.

Property developer I-Bhd (KL:IBHD) posted an over 81% jump in net profit for the third quarter ended Sept 30, 2025 (3QFY2025), driven by stronger contributions from its property development and investment segments, efficient cost management, and a one-off fund recovery following project completions.

The takeover offer by Magna Prima Bhd’s (KL:MAGNA) largest shareholders—Datuk Seri Wong Sze Chien and managing director Seah Ley Hong—for the remaining shares in the company has turned unconditional, after their collective stake climbed above 50%.

Axis Real Estate Investment Trust (KL:AXREIT) declared a third interim distribution per unit (DPU) of 2.65 sen on Thursday, as it saw a 15.7% year-on-year jump in its third-quarter net property income (NPI), thanks to newly acquired assets and rental growth.