News by TheEdgeMarkets.com

Berjaya Land Bhd (BLand) is venturing into the rail business with the launch of Berjaya Rail Sdn Bhd (Berjaya Rail), with intent to venture into the rail business, particularly in the high-speed rail project.

American-based hyperscale data centre provider Vantage Data Centers announced plans to build the second data centre campus in Cyberjaya with a total investment value of US$3 billion (RM13.32 billion).

Bintai Kinden Corp Bhd made further announcements on its boardroom changes on Tuesday (May 16), including the return of its former chief executive officer Datuk Tay Chor Han as its new group managing director effective May 15.

Sunway Bhd’s acquisition of 5.09 acres of freehold land in Sri Hartamas for RM170 million, with an additional RM50 million if the group managed to increase the development plot ratio (PR), is deemed fair by analysts.

IJM Land Bhd has announced that its 51%-owned UK subsidiary RMS (England) 2 Ltd (RMS 2) has partnered up with UK-based railway company Network Rail to explore development opportunities through Network Rail’s portfolio.

Yong, 48, was appointed to the role on Aug 22, 2022, replacing Choh Kim Chiew and was a member of the Malaysian Institute of Accountants (MIA) and CPA Australia.

Its executive director Noor Azri Datuk Seri Azerai has resigned due to personal reasons and time commitment on other companies. 

There will also be an additional sum of RM50 million deposited by the buyer within three months of completion of the conditions of the agreement.

The increase in the overnight policy rate (OPR) to 3% on May 3 is expected to have an impact on property market activity, particularly residential demand, said the National Property Information Centre (Napic).

TA Securities Research has valued Main-Market bound Radium Development Bhd at 51 sen per share, implying a financial year ended Dec 31, 2021 (FY2021) price-earnings ratio (PER) of 17.1 times, due to strong demand for affordable housing in the capital.