News by Emir Zainul

Construction firm Kerjaya Prospek Group Bhd's (KL:KERJAYA) unit is suing Apple 99 Development Sdn Bhd, a wholly owned subsidiary of Yong Tai Bhd (KL:YONGTAI), over an alleged failure to pay an outstanding contract sum of RM105.14 million.

Magma Group Bhd (KL:MAGMA) said Impiana Selo Tioman Resorts Sdn Bhd, a 75%-owned unit of the hospitality group, is being sued by two individuals over an alleged breach of a sale and purchase agreement relating to five parcels of land in Tioman, Pahang. 

The offer price represents a premium of 11% to SMI’s closing price of 40.5 sen on Monday.

Mohd Ariff has over 18 years of experience in key positions of internal audit, accounts and reporting, and business planning and budgeting in the oil and energy industry. 

On top of that, the court also ordered Ireka to pay incidental cost of RM7,500 and an allocator fee of RM300.

Bursa Malaysia Bhd (KL:BURSA) will only move its “front office” to the Tun Razak Exchange (TRX), not its entire operation, according to its chairman Tan Sri Abdul Wahid Omar.

Its wholly owned subsidiary Paragon Business Hub Sdn Bhd is acquiring two parcels of freehold land, measuring approximately 11.09 acres and 8.24 acres respectively from EKL Holdings Sdn Bhd.

Shares in Gamuda Bhd (KL:GAMUDA) surged to a new record high on Thursday, boosted by news that its joint venture (JV) in Australia secured a contract worth A$1.6 billion (RM5 billion) and renewed interest in construction stocks on Bursa Malaysia.

Gamuda Bhd (KL:GAMUDA) said on Thursday its joint venture (JV) with French rail engineer Alstom SA in Australia has secured a contract worth A$1.6 billion (RM5 billion).

Advancecon Holdings Bhd (KL:ADVCON) is working with the Perak government for the development, construction, operation, management, and maintenance of centralised labour quarters (CLQs) in the state, with the aim of addressing the increasing demand from industrial manufacturers for workers' accommodation.