News by Luqman Amin

The Sultan of Pahang, Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah, on Wednesday increased his stake in Citaglobal Bhd (KL:CITAGLB) through the off-market acquisition of a 3.52% stake.

Exsim Hospitality Bhd (KL:EXSIMHB), formerly Pan Malaysia Holdings Bhd, has agreed with AmFIRST Real Estate Investment Trust (REIT) (KL:AMFIRST) to manage a planned RM45 million refurbishment and rebranding of The Summit Hotel Subang USJ, and to lease the hotel for three years after the revamp.

Construction firm Fajarbaru Builder Group Bhd (KL:FAJAR) announced on Tuesday that the company will rebrand as FBG Holdings Bhd, with the name change taking effect on Bursa Malaysia at 9am this Friday, Aug 8.

The government will maintain the annual revenue threshold for the expanded sales and services tax (SST) on construction services at RM1.5 million, despite industry calls to raise it to RM3 million.

Construction outfit PTT Synergy Group Bhd (KL:PTT) has proposed to acquire 4.56 hectares of freehold land in Rawang, Selangor, for RM60 million to build a commercial warehouse.

Malaysia Rapid Transit Corporation Sdn Bhd (MRT Corp) said on Thursday that the number of land lots to be acquired in the federal capital for the MRT3 Circle Line has been reduced by more than 31%, following extensive public consultation.

YNH Property Bhd (KL:YNHPROP) on Tuesday terminated a development agreement with Chin Hin Group Property Bhd (KL:CHGP) for an apartment project in Segambut, Kuala Lumpur, and will instead sell the 6.49-acre parcel to Chin Hin via a direct land deal.

The Malaysian Anti-Corruption Commission (MACC) has sent asset declaration notices to 22 people identified as close relatives and associates of the late Tun Daim Zainuddin and his widow, Toh Puan Na’imah Khalid, as part of the ongoing Ilham Tower investigation.

About half of 23 economists polled predict a cut from 3%, while the rest expect the central bank to stand pat.

Kim Hin Industry Bhd (KL:KIMHIN) is set to be taken private after its chairman Chua Seng Huat and family offered RM45 million to buy out the ceramic tile manufacturer.