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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 LOA will be Gagasan Nadi’s second undertaking with Kwasa Land, after breaking ground on the construction of 1,669 affordable housing units Kwasa Damansara last year.

The property developer said this announcement serves to rectify its oversight pertaining to the proposed acquisition and is made in accordance with Chapter 10 of the Main Market Listing Requirements of Bursa Malaysia Securities Bhd.

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.

DONE DEAL: Terrace house, Taman Setiawangsa, Kuala Lumpur DONE DEAL: Bungalow, Taman Bukit Pantai, Kuala Lumpur Bayu Segar is located in Taman Bukit Segar, a quaint neighbourhood, towards the southern end of Cheras.

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.

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.

“We wanted our new facility to be more flexible, health-conscious, and appealing for our team,” said IQI group CEO Kashif Ansari.

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