News by theedgemalaysia.com

The High Court last month dismissed a suit filed by 37 parcel owners of K Residence against developer KL Landmark Sdn Bhd, landowner City Properties Sdn Bhd, and its directors Tan Sri Yap Yong Seong and Sean Yap.

Mah Sing Group Bhd’s (KL:MAHSING) RM260 million acquisition of the Corus KLCC Hotel land in Kuala Lumpur comes at a premium price, but analysts believe it is a strategically sound move that could enhance the company’s near-term earnings and long-term growth prospects.

Gagasan Nadi Cergas Bhd (KL:NADIBHD) and Permodalan Negeri Selangor Bhd (PNSB) are on track to deliver 15,206 Idaman affordable housing units over seven projects by 2030, according to Selangor Menteri Besar Datuk Seri Amirudin Shari in the key handover ceremony for the RM304 million Rumah Idaman Bukit Jelutong on Friday. 

Malaysia’s new data centres will release annual greenhouse gas equivalent to adding more than two million cars to the country’s roads, an environmental think tank warned.

The outlook for Kuala Lumpur’s luxury hotel sector appears to be positive over the next 12 months with the 47th Asean Summit happening on Oct 26 this year and the Visit Malaysia 2026 tourism campaign, according to Park Hyatt Kuala Lumpur general manager Herman Kemp.

A subsidiary of property developer EcoFirst Consolidated Bhd (KL:ECOFIRS) has been sued by purchasers of an apartment development in Seri Kembangan concerning an over-decade-long delay in obtaining strata titles.

Parkson Holdings Bhd’s (KL:PARKSON) unit in Beijing will end its long-standing retail tenancy at the China National Arts and Crafts Museum from Jan 1, 2026, following a lease termination agreement signed to cut losses and reduce financial strain.

Airbnb activity contributed RM9.2 billion to Malaysia’s gross domestic product (GDP) in 2024, equivalent to 5% of the tourism sector’s overall contribution.

Sentral REIT’s (KL:SENTRAL) net property income slipped 2.5% in the the second quarter, mainly due to lower rental income from Menara Shell, coupled with accounting adjustments under the Malaysian Financial Reporting Standard 16.

Azam Jaya Bhd (KL:AZAMJAYA) has secured a three-year contract from the Ministry of Transport for upgrading works for Sabah’s Tawau Airport.