News by Sulhi Azman

EcoWorld will be focusing on 17 of its core developments projects that spans across three growth areas: Penang, Klang Valley and Iskandar Malaysia in Johor.

Sunway Real Estate Investment Trust’s (REIT) distribution per unit (DPU) for the second quarter ended Dec 31, 2016 (2QFY17) fell 11.3% to 2.28 sen from 2.57 sen a year ago, on the cessation of manager’s fee payable in units, effective FY17.

Magna Prima Bhd said today it has appointed Ho Wen Yan as its new executive director. Ho, 42, is currently the executive director and chief executive officer of property developer Hua Yang Bhd.

Penang Automation Cluster Sdn Bhd is acquiring the land from state-owned Penang Development Corp, Vitrox and Pentamaster said in filings with Bursa Malaysia.

Gabungan AQRS acquired the 99-year leasehold land in November 2009, at a cost of investment of RM38.29 million. The leasehold period will expire in another 91 years on May 13, 2108.

Malaysian Rating Corp Bhd (MARC) has removed the rating on WCT Holdings Bhd’s RM2.5 billion debt programmes from its MARCWatch Developing list, as it is satisfied with the construction company’s plan to reduce the debt that had been affecting its credit ratings.

Vizione Holdings Bhd, formerly known as Astral Supreme Bhd, said it has raised gross proceeds of RM58.29 million from the its two-for-one rights issue with free attached warrants.

Eco World Development Group Bhd has despatched a circular to its shareholders, seeking their approval for its proposed acquisition of two parcels of land in Batu Kawan, Penang for RM875.24 million.

The disposal, according to the filing, was done on Jan 20, 2017 via “a private arrangement”.

Yesterday, Gadang posted a 57% jump in net profit to RM27.91 million in the second quarter ended Nov 30, 2016, from RM17.72 million a year earlier, on better margins from construction activities and higher contributions from the property segment.