News by M

During the quarter under review, increased profits from property, hospitality and financial services was more than offset by a 55% decline in the industries segment. 

CZC alleged that its payments amounting to RM13.12 million made to IHB's wholly-owned subsidiary Infraharta Sdn Bhd (ISB) were tainted with fraud and deceit and that ISB is liable to return the same amount to CZC.

Advancecon said it has initiated several strategic initiatives, including forming public-private partnerships and collaborating with state development agencies. 

Signature plans to list its renovation subsidiary Space Alliance Contracts Sdn Bhd and its interior fit-out business that focuses on commercial projects, Zig Zag Builders (M) Sdn Bhd.

Tropicana said the original cost of investment in the land stood at approximately RM143.19 million.

GDB said an adjudicator ruled that KSK Land's unit Damai City Sdn Bhd (DCSB) has to pay GDB's unit Grand Dynamic Builders Sdn Bhd (GDBSB) a total of RM59.32 million as outstanding payment based on a contract between them for construction works carried out, but not paid.

Eastern & Oriental Bhd (KL:E&O) reported a 13.9% increase in its net profit to RM37.52 million for the first quarter ended June 30, 2024 (1QFY2025), from RM32.95 million a year ago, as improved property segment contribution helped offset a weaker healthcare segment.

Prasarana Malaysia Bhd, which operates the country's public stage bus and rail services, confirmed that it has been hit by a cybersecurity breach involving part of its internal systems.

The Real Estate and Housing Developers' Association Malaysia (REHDA) is of the view that the Madani Deposit and a programme akin to the previous Developer Interest Bearing Scheme (DIBS) should only be applied to controlled priced affordable housing.

Tropicana Corporation Bhd announced that 116 homeowners of Gemala Residences in Tropicana Aman received their handover of vacant possession seven months earlier than expected.