News by M

The RM3.74 billion Setiawangsa-Pantai Expressway (SPE) is 13% complete and 3% ahead of schedule, Ekovest Bhd managing director Datuk Seri Lim Keng Cheng said in a Bernama report yesterday.

Ibraco Bhd shares rose 2.38% in thin trade this morning after Hong Leong IB Research initiated coverage on Ibraco with a “Buy” rating and target price of 97 sen (upside of 15.5%) based on 35% discount on RNAV of RM1.49.

Despite dwindling contributions from its department stores (due mainly to an increasing shift in consumer preference to more trendy options such as Uniqlo, Topshop and Zara), revenue at the retail segment grew 5% in the financial year ended Dec 31, 2016 (FY16).

Selangor Dredging Bhd (SDB), via its indirect 50% associated company Champsworth Development Pte Ltd, has acquired a parcel of prime land in Draycott Park, Singapore for S$72 million (RM223.2 million).

Trive Property Group Bhd has proposed an issuance of up to 500 million new shares to Australian bank Macquarie Bank Ltd to raise up to RM60.5 million to fund a residential development project in Kertih, Terengganu.

Anzo Holdings Bhd said its wholly-owned subsidiary Harvest Court Properties Sdn Bhd (HCP) has entered into a collaboration agreement with DVM Innovate Sdn Bhd, a wholly-owned unit of Key Alliance Group Bhd, for the development of a proposed e-commerce fulfilment hub.

Crest Builder group managing director Eric Yong Shang Ming said the construction division will be the major driver for the group this year.

Bintai Kinden Corp Bhd rose 2.44% this morning after it bagged a US$17.5 million (RM74.5 million) deal in Myanmar.

Bintai Kinden Corp Bhd has bagged a US$17.5 million (RM74.5 million) deal in Myanmar to undertake air-conditioning and fire protection installation work.

In its third initiative with the Centre for Liveable Cities (CLC), the Urban Land Institute (ULI) today announced the launch of a new report at the 2017 ULI Asia-Pacific Summit in Singapore.