News by Billy Toh

There could be a knee-jerk reaction after the deal to buy a 60% stake in Bandar Malaysia collapsed...

Collapse of deal will have negative impact on IWC, say analysts.

The new tourism tax bill that was just passed is expected to affect KLCCP Stapled Group, which owns Mandarin Oriental Kuala Lumpur Hotel that is already facing a challenging environment.

Group’s priority is to focus on rebranding and finding the right mix of  tenants.

The sale is expected to increase the group’s earnings per share by 0.17 sen for the financial year ending Dec 31, 2017 (FY2017), Picorp said in a filing with Bursa Malaysia.

Eastern & Oriental Bhd (E&O) fell as much as 18 sen or 8% on profit taking after the stock rose ahead of the property developer's announcement on a planned joint venture with Malaysia's Retirement Fund (Inc).

Crescendo Corp Bhd climbed as much as 12 sen or 7% after the property developer said fourth quarter net profit rose 262% from a year earlier and declared a dividend of three sen a share.

According to a filing with Bursa Malaysia today, the first tranche of the placement shares will see gross proceeds of RM178 million being raised. It entails the issuance of 100.5 million new WCT shares, representing approximately 8% of the total number of issued shares of WCT, excluding treasury shares, amounting to about 1.256 billion WCT shares as at March 29, 2017.

QL Resources Bhd has disposed of its remaining shareholding of about 38% in QL KK Properties Sdn Bhd for a cash consideration of about RM7.3 million, in line with the group’s strategic review to focus on its core business.

It also has an option to buy from its major shareholders.