Property developers have called on the government to engage in dialogue with them before the adoption of the industrialised building system (IBS) is made mandatory for all players in the construction industry.

The building contractor said a total of 12,574 applications for 1.17 billion new shares valued at RM292.64 million were received from the Malaysian public for 26.76 million new shares that were made available for public subscription.

UEM Sunrise Bhd rose as much as seven sen or 5% after the property developer said first quarter net profit rose 1,929% from a year earlier.

Tan Sri Zamzamzairani Mohd Isa will assume the role of UEM Sunrise Bhd chairman from today.

Shares of Mudajaya Group Bhd rose 7.91% this morning after RHB Retail Research said Mudajaya may climb higher after posting a long white candle and hitting its new 52-week high.

Malaysian Resources Corp Bhd (MRCB) fell 6.90% this morning in line with the retreat at the broader market after it proposed a one-for-one renounceable rights issue to pare down its borrowings and to finance the refurbishment of the national sports complex in Bukit Jalil.

The rights issue has nothing to do with Bandar Malaysia.

Iskandar Waterfront City Bhd fell 3.7% in active trade this morning.

Parties interested to take up the role of master developer for the multibillion-ringgit Bandar Malaysia development in Sungai Besi here have up to June 30 to submit their proposals.

UEM Sunrise Bhd rose as much as seven sen or 5% after the property developer said first quarter net profit rose 1,929% from a year earlier.