News by M

Group hopes to do this through the unlocking of Lai Meng land.

Malaysia Land Properties Sdn Bhd (Mayland) has launched the first phase of Dorsett Residences Sri Hartamas.

Hua Yang Bhd aims to realise the potential of its 30.95% acquisition of Magna Prima Bhd at a total of RM190.3 million by unlocking the latter's value in the former Lai Meng School land on Jalan Ampang in the next two financial years ending March 31, 2020.

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.