News by JUSTIN LIM

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.

The first building is scheduled for completion in the third quarter of 2025 (3Q2025), while the second building is expected to be completed in 1Q2026.

The deal involves the setting off of RM66 million of indebtedness, and a RM18 million interest waiver on the debt owed by Talam Transform to IJM Properties.

American tyre company Goodyear has put its factory in Shah Alam’s Section 15 up for sale, following its March decision to shut down its manufacturing facility in Malaysia as part of its cost restructuring efforts.

Building and infrastructure construction company TCS Group Holdings Bhd (KL:TCS) has secured a RM130.15 million contract to undertake the construction of serviced apartments in Selangor, in a related party transaction.

Ekovest Bhd (KL:EKOVEST) said it has agreed to a further extension of time to discuss a merger between its wholly owned subsidiary Ekovest Construction Sdn Bhd (ECSB) and Knusford Bhd (KL:KNUSFOR).