News by Syafiqah Salim

Jiankun International Bhd (KL:JIANKUN) has redesignated its president Datuk Saiful Nizam Mohd Yusoff as non-independent and non-executive chairman, effective Friday.

Jiankun International Bhd (KL:JIANKUN) has redesignated its president Datuk Saiful Nizam Mohd Yusoff as non-independent and non-executive chairman, effective Friday.

Property developer Kerjaya Prospek Property Bhd (KL:KPPROP) will jointly develop a piece of freehold land in Aspen Vision City, Batu Kawan, Penang into a mixed development that will include a hotel and serviced apartments.

Paragon Globe Bhd (KL:PGLOBE) is selling part of a parcel of freehold land it had just acquired in the district of Plentong, Johor Bahru, for RM238.32 million to improve its liquidity and financial position.

All eyes will be on Bank Negara Malaysia (BNM) as the central bank is set to announce its overnight policy rate (OPR) decision later on Thursday afternoon.

The ringgit has been under pressure though a rate hike is not a “panacea”, HSBC said. 

The contract period is 42 months from May 2, according to Crest Builder in a filing with Bursa Malaysia on Tuesday.

There seems to be a positive shift as the pace of construction cost escalation seems to be moderating, while issues such as manufacturing backlogs, logistics, and supply chain disruptions are gradually stabilising.

Fibre optic cables manufacturer Hextar Capital Bhd, formerly known as Opcom Holdings Bhd, said it plans to diversify into the construction and project management business.

KLCC Property Holdings Bhd (KLCCP) said it has on Friday made the first issuance of Sukuk Wakalah amounting to RM1.95 billion in nominal value under the RM5 billion programme, to finance the acquisition of a 40% stake in Suria KLCC Sdn Bhd.