News by Syahirah Syed Jaafar

The rate changes will take effect from next Thursday (Jan 30), the bank said in a statement yesterday.

The group announced a distribution per unit of 1.76 sen for the quarter, which represents a 95% income distribution rate.

In a filing yesterday, Amverton said it received an unconditional voluntary take over offer from Hong Leong Investment Bank Bhd on behalf of Ng’s holding company Dalta Industries Sdn Bhd, to acquire the remaining 80.83 million shares representing a 22.14% stake, for a total cash consideration of RM97 million.

The decision stems from the failure of Titanium Hallmark to pay the balance of the total disposal consideration for the seven plots of land. 

In a surprise move, MAHB yesterday announced that Raja Azmi, 52, has resigned to pursue other opportunities.

Crest Builder said the contract is expected to contribute positively to the group's earnings and net tangible assets for the financial year ending Dec 31, 2020 (FY20) and onwards.

On Friday (Dec 13), sources familiar with the matter revealed that IWH-CREC Sdn Bhd and the Ministry of Finance (MoF) will sign a reinstatement amended share sale agreement tomorrow (Dec 17) to finalise the terms and details relating to the divestment of the 60% equity interest held by the government in the development project.

Although median incomes continue to outpace inflation, income growth rates for low-income Malaysians slowed between 2014 and 2016, it said. Moreover, wage growth for younger and less-educated workers has been sluggish, persistently trailing the earnings of older and better-educated workers.

The Act, which is intended to protect both landlords and tenants in the event of any dispute that arises during a tenancy period, was first announced by the Ministry this April.

There are no comparative figures disclosed for the current quarter following the company's change in its financial year end from April 30 to June 30, 2019.