News by Shazni Ong

Gamuda Bhd's planned 30% stake acquisition in ERS Energy Sdn Bhd for RM200 million via the subscription of shares is expected to help the group hasten its target of having an 800 MW renewable energy (RE) asset portfolio in the next few years, making it Malaysia's largest private RE producer.

Saiful Nizam's redesignation comes just a little over two months after he was made the company's executive deputy chairman.

The purchase order of S$3.2 million is equivalent to about 22% of the group's revenue for the FY2021 and raises Mestron's total order book size to RM63 million.

Impiana Hotels Bhd has announced that the winding up petition served by Axventure Sdn Bhd over an unpaid sum amounting to RM2.26 million relating to a resort redevelopment has been amicably resolved.

Sime Darby Property said the acquisition is in line with the group's journey under the SHIFT25 strategy to transform from a pure play property developer into a real estate company by broadening and diversifying income streams.

Prior to holding the CFO position at S P Setia, Annuar Marzuki Abdul Aziz, 52, was CFO and chief investment officer of KLCC Property Holdings Bhd.

The improvement in profitability came on the back of higher revenue and profit before tax, following the full resumption of business activities during the quarter. 

GenM posted RM11.38 million net profit or earnings per share of 0.2 sen compared with RM289.25 million net loss or loss per share of 5.12 sen in the same period a year ago.

Yong Tai Bhd started its financial year ending June 30, 2023 (FY23) with a net profit of RM1.81 million for the first financial quarter ending Sept 30, 2022 (1QFY23), from a RM5.56 million net loss posted in the same period last year, mainly due to contribution from improved sales of completed units.

UEM Sunrise Bhd posted a net profit of RM20.35 million or 0.4 sen per share in the third quarter ended Sept 30, 2022 compared to a net loss RM50.38 million or 1 sen per share in the same period last year on improved revenue contribution from the property development segment.