News by theedgemalaysia.com

RHB Investment Bank (RHB IB) has upgraded the construction sector to 'overweight' from 'neutral' mainly due to its upgrade on Gamuda Bhd, which accounts for 36.5% weightage on the KL Construction Index.

Malaysia Building Society Bhd (MBSB) shares were actively traded on news that the bank will buy out Permodalan Nasional Bhd's (PNB) entire stake in Malaysian Industrial Development Finance (MIDF) in a RM1.01 billion share deal.

Malaysia Building Society Bhd (MBSB) will acquire the entire equity interest in Malaysian Industrial Development Finance (MIDF) from Permodalan Nasional Bhd (PNB) via a RM1.01 billion share deal.

Top Builders Capital Bhd, which previously delayed the release of its annual report for the financial year ended June 30, 2022 (FY2022) to complete a forensic audit on irregularities found in the group's scheme of arrangement, now says it did not appoint any forensic auditors to look into the matter due to budgetary constraints.

Kimlun Bhd said it has secured two construction contracts in Johor Bahru from Bandar Nusajaya Development Sdn Bhd worth a total of RM95.41 million.

The government will extend the stamp duty exemption given to first-time homebuyers, according to the Ministry of Finance (MOF).

Sentral Real Estate Investment Trust (Sentral REIT) plans to acquire 27-storey Menara CelcomDigi in Petaling Jaya from Malaysian Resources Corp Bhd (MRCB).

RHB Investment Bank upgraded Gamuda Bhd to “buy” from “neutral”, with a new RM4.95 target price (TP) from RM4.35, as the research house views the stock as a strategic hedge towards downside risks from the local construction sector, given its sizeable overseas footprint.

Bina Puri Holdings Bhd said its wholly-owned subsidiary Bina Puri Sdn Bhd (BPSB) had applied for a restraining order due to lacklustre construction activities and the sluggish property market climate brought on by severe disruption of the overall operating environment that rose from the implementation of the movement control order (MCO).

Some 95% of Glomac Bhd's 121 Residences at Kayu Ara in Petaling Jaya, Selangor has been taken since its launch in August 2019, according to its chief operating officer Zulkifly Garib in a topping out ceremony on Thursday (June 8).