News by Emir Zainul

KUALA LUMPUR (Nov 12): Seremban Engineering Bhd (KL:SEB) said it has been served with a counterclaim for RM24.94 million in a lawsuit related to a manufacturing plant projectin Bandar Enstek, Negeri Sembilan.

Malaysia should shift from merely hosting data centres to becoming a global leader in the design, manufacturing, and export of data centre infrastructure, said Minister of Economy Rafizi Ramli.

Following Bank Negara Malaysia's (BNM) decision on Wednesday to maintain the overnight policy rate (OPR) at 3%, which marks 18 months of rate pause, economists expect the central bank to leave the benchmark interest rate unchanged throughout 2025 as well.

The six-year dispute between Star Media Group Bhd (KL:STAR) and property developer JAKS Resources Bhd (KL:JAKS) over the development of a parcel of land in Section 13, Petaling Jaya, which started in 2018, has come to an end, with both parties inking an agreement to settle the issue.

Ireka Corp Bhd (KL:IREKA), a Practice Note 17 (PN17) construction company, said its external auditor has expressed a disclaimer of opinion on the company’s audited financial statements for the financial year ended June 30, 2024 (FY2024).

AME Elite Consortium Bhd (KL:AME) is working together with Kuala Lumpur Kepong Bhd (KL:KLK) in a joint venture (JV) to develop a new industrial park in Ijok, Selangor.

New tenancies from its logistics warehouse Axis Mega Distribution Centre (Phase 2) and positive rental reversion from its existing portfolio also boosted its NPI for the three months ended Sept 30, 2024.

Protasco Bhd (KL:PRTASCO) said on Wednesday that an affordable housing project awarded by Perbadanan Putrajaya in 2022 has been revised with a new name and with a lower number of units.

Property developer Glomac Bhd (KL:GLOMAC) has urged the government to start the implementation of mandatory Employees Provident Fund (EPF) contribution by foreign workers, as announced in Budget 2025, later rather than sooner.

Glomac Bhd (KL:GLOMAC) is currently in talks with respective parties to venture into the waste-to-energy business, as part of its plan to seek new sources of revenue, according to group managing director and chief executive officer Datuk Seri FD Iskandar Mohamed Mansor.