News by THEEDGEMARKETS.COM

Jentayu Sustainables had on Thursday (April 7) entered into a conditional Sale and Purchase Agreement (SPA) with Beacon ACM Sdn Bhd for the disposal of the property, according to its bourse filing on Friday.

Under the deal, MPSB will construct the building which will be able to accommodate 94 beds of single rooms with a minimum of 300 parking bays under Phase 1 of the project.

According to the press statement, the 10,000 affordable houses include Idaman Bukit Jelutong (launched on Thursday), Idaman Elmina West (upcoming launch), as well as other ongoing projects such as Rumah Selangorku housing project in Serendah, two high-rise affordable housing projects for Paramount Corp Bhd in Kemuning Utama and Greenwood Salak Perdana, and the Rumah Idaman project for Kwasa Land Sdn Bhd in Kwasa Damansara.

The research house said in a note on Thursday that although retail sales and footfall have recovered since the relaxation of movement restrictions, it does not expect the recovery in retail sales and footfall to translate into a significant improvement in rental reversion rates for malls in the near term.

The stock opened at RM1.20 before rising to a high of RM1.24. As at 9.38am, the counter had risen six sen or 5.13% to RM1.23, valuing the construction outfit at RM1.53 billion. 

In a statement on Thursday (April 7), the solar PV and earthing and lightning protection specialist said the company's wholly-owned subsidiary Pekat Solar Sdn Bhd (PSSB) has accepted the letter of award from Sun Estates for its appointment as the turnkey engineering, procurement, construction and commissioning (EPCC) contractor for the project.

In a filing with Bursa Malaysia, the group said the RM9.5 million contract was awarded to its subsidiary TAFI Home & Office Sdn Bhd by Alpha Asset Sdn Bhd.

The contract was awarded by Eastern & Oriental Bhd's indirect subsidiary Persada Mentari Sdn Bhd to Kerjaya Prospek's wholly-owned unit Kerjaya Prospek (M) Sdn Bhd.

In a statement, Mah Sing group chief executive officer Datuk Ho Hon Sang said: “M Arisa is located adjacent to M Centura, which was recently completed and the units were handed over to the purchasers. We can see that the sales rate of M Arisa has been very encouraging. For first-time homebuyers, younger professionals or young couples, M Arisa will be the perfect affordable residence that provides an abundance of green spaces.”

Investment analysts covering the stock believe that Gamuda can unlock the value of its highway concessions through the deal and that this will strengthen the group’s balance sheet, lower leverage, reward shareholders with special dividends and reduce borrowings.