News by M

The Court of Appeal last week dismissed an appeal by a landowner-cum-developer for loss of profit/business disturbance following the acquisition of almost two acres of its 4.53 land in Klang for the construction the West Coast Expressway (WCE).

Sarawak Consolidated Industries Bhd (KL:SCIB) has cancelled its RM49 million financing facilities after the board determined that the facilities were no longer required following the group’s disposal of its indirect wholly owned unit SCIB Concrete Manufacturing Sdn Bhd (SCM).

AME Elite Consortium Bhd (KL:AME) has secured a RM214.1 million contract from KLIA Aeropolis Sdn Bhd, a subsidiary of Malaysia Airports Holdings Bhd, to build the first phase of a specialised test cell facility in Sepang.

Glomac Bhd (KL:GLOMAC) has appointed Fateh Idzham Datuk Seri Fateh Iskandar—better known as FD Idzham—as a group executive director, marking the entry of the third generation into the property developer’s leadership ranks.

GuocoLand (Malaysia) Bhd's (KL:GUOCO) controlling shareholder GLL (Malaysia) Pte Ltd (GLLM) has submitted a proposal to the board to privatise the property arm of the Tan Sri Quek Leng Chan-controlled Hong Leong Group via a selective capital reduction and capital repayment exercise at RM1.10 per share.

Sentoria said the writ has yet to be served on OCBC Bank and is expected to be served within six months from the date of lodgement.

Koon has also established scholarships and contributed generously to universities, including RM1 million annual student grant to Universiti Tunku Abdul Rahman, driven by his belief that education was the key to uplifting society.

IJM is a takeover target of Sunway, which made an offer of 31.5 sen cash per IJM share plus 0.501 new Sunway shares which it will issue at RM5.65 apiece.

Shares of GuocoLand (Malaysia) have climbed 59.8% since the start of the year. The stock last traded at 93.5 sen, the highest since 2018, for a market capitalisation of RM654.9 million.

Sunview also highlighted that the RM75 million impairment recognised in FY2025 relates to works completed under the Large Scale Solar 4 (LSS4) project for PKNP Reneuco Suria Sdn Bhd, a 95%-owned subsidiary of energy and utilities construction outfit Reneuco Bhd.