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This would be the second land acquisition in Iskandar Malaysia by the group within a span of less than five months.

This downgrade reflects growing concerns over YNH's weak liquidity position and further delays in the sale of assets, which is much-needed for cash infusion.

The freeze was due to the counter trading at static limit down prices for two consecutive days, Bursa said in a stock exchange filing on Wednesday.

The group’s 51%-owned indirect unit Spring Energy Sdn Bhd accepted the subcontract from CCC-ECRL on Wednesday for the construction and completion of subgrade works, Section 8 from CH518+388.

MAHB said it has entered into an agreement with Alstom and the IJMC-Pestech joint venture (JV) to steer the aerotrain replacement project back on track.

SCIB's managing director Ku Chong Hong said the company does not have any influence over its share price movements and is not aware of any specific reasons for the recent trading activity.

Rapid Synergy, YNH Property and Imaspro had received unusual market activity queries from Bursa Malaysia last week and had responded to the local stock exchange operator.

According to Kenanga Research, the latest award has lifted the group’s new job wins this year to RM377.

Smack between Kuala Lumpur and Petaling Jaya, and flanked by Putrajaya, the strategic location of Puchong, Selangor has always attracted homeowners and investors alike.

The gross development cost of the project it plans to build on the plots is about RM792 million.