SHAH ALAM: Gerbang Perdana Sdn Bhd, the contractor for the aborted RM1.1 billion “crooked bridge” that was to replace the Johor Causeway, told the High Court yesterday that its subcontractor — the ACPI-IC&E joint venture (JV) — had “misled” the company on the progress of work on the project, resulting in delays.

KUALA LUMPUR: S P Setia Bhd expects sales to be flat or slightly lower at RM4.6 billion for the financial year ending Oct 31, 2015 (FY15), after missing its sales target of RM5 billion in the just-ended fiscal year amid weaker market sentiment.

KUALA LUMPUR: S P Setia Bhd dismissed talk that the property developer’s uncertainty over its permanent leadership plans will lead to a loss in investor confidence and its competitiveness.

KUALA LUMPUR (Dec 16): Masterskill Education Group Bhd has aborted its plan to dispose of its campuses in Cheras, Kuching, Kota Kinabalu and Johor, after its board was unable to mutually agree on a revised sale consideration, based on the property valuation done by independent valuer Cheston International (KL) Sdn Bhd.

KUALA LUMPUR: IOI Properties Group Bhd and Starwood Hotels and Resort have opened Klang Valley's first Four Points by Sheraton in Puchong. It is the fifth hotel in Malaysia and is located in the third tower of Puchong Financial Corporate Centre.

KUALA LUMPUR (Dec 16): CIMB Research has maintained its “Hold” rating on KLCC Property Holdings Bhd at RM6.50 with an unchanged target price of RM6.90 and said that in the current market conditions, REITs could provide a safe haven for capital preservation given its stable dividend yields.

KUALA LUMPUR: Dayang Enterprise Holdings Bhd said its wholly-owned unit Dayang Enterprise Sdn Bhd has won a RM280 million contract for the provision of major modification works for the Baram Delta gas gathering project 2 and Baronia enhanced oil recovery development project off the coast of Sarawak.

PETALING JAYA (Dec 15): Felda Investment Corp (FIC), which is a subsidiary of the Federal Land Development Authority (Felda) has acquired the Grand Plaza Kensington Hotel in London for £60 million (RM330 million) to "diversify its investment assets".

The acquisition makes it the first London property for FIC and the second for Felda. 

KUALA LUMPUR (Dec 12): Malayan United Industries Bhd (MUI) is selling its 69.192% equity stake in Pan Malaysia Holdings Bhd (PM Holdings) to Datuk Dr Yu Kuan Chon for RM77.124 million cash or 12 sen pe share, in a move to divest its non-core assets and reduce its bank borrowings.

NEGERI SEMBILAN: TH Properties Sdn Bhd will launch the first phase of its Hundred East@enstek residential development in its 5,119-acre (2,071ha) Bandar Enstek this weekend.