News by Emir Zainul

The High Court has struck out a civil suit by lawyer Mohd Hatta Sanuri against former prime ministers Tun Dr Mahathir Mohamad and Tan Sri Muhyiddin Yassin, the government of Malaysia and several others, over the cancellation of the Kuala Lumpur-Singapore high-speed rail (KL-SG HSR) project in 2021.

Sime Darby Property Bhd and Brunsfield Metropolitan Sdn Bhd have mutually terminated their 60:40 joint venture (JV).

Country Heights Holdings Bhd has appointed its deputy managing director Dr Ricky Yip Chun Mun as the new acting MD effective Friday (Dec 1).

Ekovest Bhd’s net profit soared to RM3.08 million in its first financial quarter ended Sept 30, 2023 (1QFY2024) from RM182,000 a year ago, thanks to improved results from its construction operations.

PJBumi Bhd said it has received a conditional development order from the Sungai Petani Municipal Council for the proposed development of its 4.6-acre industrial land in Sungai Petani, Kedah.

Property developer KSL Holdings Bhd has posted a 43.1% jump in its net profit for the third quarter ended Sept 30, 2023 (3QFY2023) to RM84.58 million from RM59.12 million a year ago, mainly contributed by the group’s flagship property projects in Johor Bahru, Kluang and Klang.

Property group MKH Bhd has obtained approval from its shareholders for the proposed listing of its wholly owned plantation subsidiary MKH Oil Palm (East Kalimantan) Bhd (MKHOP) on the Main Market of Bursa Malaysia.

Gadang Holdings Bhd is acquiring a 21.08-acre land in Kwasa Damansara for RM114.78 million, or RM125 per square feet, to be developed into a residential project.

KLCCP Stapled Group’s net profit rose 4.96% to RM185.34 million in the third quarter ended Sept 30, 2023 (3QFY2023), from RM176.59 million a year ago, on improved hotel and management services while the office segment remained steady.

... mainly due to higher finance cost arising from borrowings made to acquire a concession business.