News by Isabelle Francis

At the close of Chin Hin Group Bhd's (KL:CHINHIN) mandatory takeover offer (MGO) for all the remaining stakes in Signature International Bhd (SIB) (KL:SIGN), Chin Hin received acceptances for over 245.53 million shares, or the equivalent of a 38.69% stake.

YNH Property Bhd (YNH) said it has remedied the "technical default" involving its sukuk programme that led to a downgrade of the company's rating by MARC Ratings recently, and assured that it will maintain compliance to prevent further technical defaults.

“The company and EPF are evaluating various viable options together to implement the exit event or any alternative plan in the best interests of the parties.”

Eco World Development Group Bhd unit Eco Botanic 3 Sdn Bhd (EB3SB) is acquiring land in Pulai, Johor from River Retreat Sdn Bhd (RRSB) for RM450.13 million, and will subsequently develop the land for affordable housing.

The project entails the construction of a 52-storey main building works, comprising of a 42-storey serviced apartment block and an eight-storey elevated car park amongst others. 

Additionally, the research firm expects increased revenue contributions from recently launched projects following aggressive launches by developers in 2023.

Works Minister Datuk Seri Alexander Nanta Linggi has confirmed that existing highway concessionaires will still have the rights to collect toll charges as per agreements with the government that are still in force, despite the development of the multi-lane free-flow (MLFF) project by a private firm.

Atrium Real Estate Investment Trust’s (Atrium REIT) asset manager Atrium REIT Managers Sdn Bhd (ABSB) has acquired buildings and leasehold land in Shah Alam, Selangor from a related party, Amazing Blitz Sdn Bhd (ABSB), for RM41 million cash.

... replacing Datuk Chang Khim Wah, 59, who has resigned to focus on his executive role in Eco World Development Group Bhd (EcoWorld),

Penang Chief Minister Chow Kon Yeow will be taking legal action against the president of the Penang Chinese Chamber of Commerce (PCCC), Tan Sri Tan Kok Ping, for allegedly making defamatory statements against him.