News by theedgemarkets.com

Kerjaya Prospek said the construction work of the main building comprises one 27-storey apartment block and one 34-storey apartment block on top of a nine-storey podium car park.

The sale is expected to result in a pro forma gain of RM487.81 million — improving earnings per share (EPS) by RM1.10, with the group distributing RM177 million of the proceeds as dividends to shareholders within six months of the agreement.

YTL Cement Sdn Bhd, a 98%-owned unit of YTL Corp, has acquired a 51% stake in Lafarge Malaysia. It has subsequently launched a mandatory general offer to Lafarge Malaysia’s minority shareholders for the remaining shares in the company at RM3.75 per share.

In a statement, the exchange said the trading activities "has been suspended for the rest of the day as the daily short selling trade limit has reached 3% of the issued number of shares of the said securities".

Witness Afidah Azwa Abdul Aziz (pictured), who is the deputy secretary at the Ministry of Finance's strategic investment division, also told the court that SRC was seen defaulting its loan payments in 2015, 2016 and 2017, and it had to obtain a loan from the government to prevent an event of default.

The reason for the renewed interest in the counter is not certain, but some dealers linked it to a possible revival of the acquisition of a 60% stake in the Bandar Malaysia project by IWH-CREC Sdn Bhd, a joint venture between Iskandar Waterfront Holdings Bhd (IWFH) and China Railway Engineering Corp Sdn Bhd.

In its filings with Bursa Malaysia, IOI Corp also announced that chief executive officer (CEO) Datuk Lee Yeow Chor will be redesignated as the group’s managing director.

It was to cover interest, late payment penalty for RM4 billion KWAP loans.

Meanwhile, Works Minister Baru Brian said the potential rise in cement prices was a concern, as it would have an impact on the domestic construction industry.

The group is also planning to relocate some of its theme park rides and attractions at i-City, Selangor, in order to free up land for property development.