News by JUSTIN LIM

Gadang said JF Foundation's suit centres on the alleged failure of Usaha Pesona "to certify and pay for certain items, primarily the idling costs".

The land is currently pledged to a bank for a loan facility of RM21 million, with an outstanding loan of RM17.87 million as of end-June this year.

The first contract with a tenure of 17 months is valued at RM6.59 million.

Axis Real Estate Investment Trust (KL:AXREIT) is proposing a private placement to raise up to RM454.99 million for repayment of bank financing.

Property developer SkyWorld Development Bhd (KL:SKYWLD) has proposed to jointly develop a property in Vietnam's  Binh Duong Province, its  second venture in that country.

Construction firm Kerjaya Prospek Group Bhd, which posted a 15.83% increase in net profit to RM70.64 million in the first half of this year (1HFY2024), is anticipating stronger construction activities in the second half of the year that will further drive its growth.

Eastern & Oriental Bhd (KL:E&O) is bullish on the Penang market, where it is based, and anticipates better property sales in its current financial year ending March 31, 2025 (FY2025).

Signature plans to list its renovation subsidiary Space Alliance Contracts Sdn Bhd and its interior fit-out business that focuses on commercial projects, Zig Zag Builders (M) Sdn Bhd.

GDB said an adjudicator ruled that KSK Land's unit Damai City Sdn Bhd (DCSB) has to pay GDB's unit Grand Dynamic Builders Sdn Bhd (GDBSB) a total of RM59.32 million as outstanding payment based on a contract between them for construction works carried out, but not paid.

Gamuda Bhd has won the coveted The Edge Billion Ringgit Club (BRC) 2024 Company of the Year award, while Public Bank Bhd managing director and chief executive officer Tan Sri Tay Ah Lek was named this year’s Outstanding CEO & Value Creator.