News by M

On prospects, Bina Darulaman said its core businesses, particularly the property development, are expected to record “respectable performance” for the financial year ending Dec 31, 2017 (FY2017)

The acquisitions are estimated to be completed by February 2018.

Key jobs eyed include the East Coast Rail Link (ECRL), MRT3, high-speed rail linking Kuala Lumpur to Singapore, and Pan Borneo Highway in Sabah.

IGB REIT said the distributable income for 2QFY17 amounted to RM76.8 million or 2.19 sen per unit, consisting of realised profit of RM67.7 million and the non-cash adjustment arising mainly from manager fee payable in units of RM8.2 million.

The corporate exercise will see Co-Prosperity’s wholly-owned subsidiary Full Winning Developments Ltd subscribe 43 million new shares of Yong Tai at RM1.26 per placement share.

Glomac said the exercise will involve the issuance of up to 74.82 million shares to shareholders whose names are listed in the Record of Depositors on a date to be fixed later.

Bernama reported that the MACC personnel were most probably there to take possession of documents to assist in a probe into the purchase of hotels in London and Kuching by FIC.

The anti-graft body’s chief commissioner Datuk Dzulkifli Ahmad said the man was held at 4am at the MACC’s Putrajaya Office where he had gone to provide a statement.

The proposed disposal is in line with Paramount’s aim to pursue an asset light strategy and monetise its real estate assets through a sale-leaseback transaction.

The case is being investigated under Section 15 of the MACC Act 2009.