News by Syafiqah Salim

MGB Bhd (KL:MGB) said it clinched an RM185.99 million contract on Tuesday to develop serviced apartments in Iskandar Puteri, Johor.

The RM69.04 million project, known as Kampung Tersusun Generasi Kedua Felcra Seberang Perak, was awarded to Caely-M in 2013 and completed on Oct 3, 2022.

The 38-month contract will commence on Aug 18. 

The overdue Section 3, which stretches from Banting to Klang, is now directly impacting the mobility of 10,000 prime movers and trailers. 

A new rent-to-own (RTO) scheme model will be introduced to offer a more flexible and affordable rental system, aimed at enhancing homeownership opportunities for the rakyat.

EcoFirst Consolidated Bhd (KL:ECOFIRS) has reported a 66.5% drop in fourth-quarter net profit to RM13.95 million, from RM41.70 million a year earlier, weighed down by reduced fair value gains on investment properties and higher costs.

Paramount Corp Bhd (KL:PARAMON) has no plan to acquire additional F&B businesses after the acquisition of a 28% stake in Singapore-listed Envictus International Holdings Ltd, said group chief executive officer Jeffrey Chew Sun Teong.

Ng said the central bank's recent 25-basis-point rate cut to the OPR in July was a preemptive measure.

Econpile Holdings Bhd (KL:ECONBHD) has secured a RM98.2 million contract to undertake bored piling works for a proposed industrial development in Kapar, Klang.

Ho Hup Construction Company Bhd (KL:HOHUP) has been served with a winding-up petition by the Inland Revenue Board (IRB) over tax arrears amounting to RM23.72 million.