News by Emir Zainul

Property developer Paramount Corp Bhd (KL:PARAMON) said on Friday that it has acquired a 21.54% stake in rival Eco World International Bhd (KL:EWINT) for RM170.61 million in cash, to accelerate its overseas expansion and diversification plan.

Practice Note 17 (PN17) company Ivory Properties Group Bhd (KL:IVORY) said in a Bursa Malaysia filing on Wednesday it had been granted a restraining order by the High Court of Malaya in Penang to restrain all further proceedings against the company including winding up, execution and arbitration from its creditors.

Construction company Inta Bina Group Bhd has secured a contract worth RM224.8 million to develop a 38-storey business serviced apartment in Subang Jaya.

The project — in collaboration with the federal government, international semiconductor firms and venture capitalists — is a strategic move to position Malaysia as a potential powerhouse in the global IC design industry.

AmanahRaya Real Estate Investment Trust (REIT), which mainly manages commercial properties, is aiming to achieve a portfolio occupancy rate of at least 90% by the financial year ending Dec 31, 2025 (FY2025).

The government's trustee company Amanah Raya Bhd (AmanahRaya) on Friday signed an agreement with national housing development company Syarikat Perumahan Negara Bhd (SPNB) to provide legacy planning in home purchases.

Malaysia was the second most popular Southeast Asian country among residential buyers from China in 2023, driven by the country's convenient location, economic stability, international education sector, and growing property market, according to real estate and investment advisory firm IQI Global.

However, Tabung Haji executive director group finance Mustakim Mohamad said he could not disclose which specific assets will be returned or when the process of returning those assets will begin.

The government has offered Gamuda’s 60%-owned SRS Consortium Sdn Bhd civil works contracts on the first segment of the Penang Light Rail Transit (Penang LRT) and hopes to conclude talks with the company within six months.

Shares of Glomac Bhd surged to its highest in three years, as investors and analysts bet on better sales and margins ahead, even after the property developer reported weaker-than-expected results.