News by theedgemalaysia.com

Haily Group Bhd (KL:HAILY) has secured a contract worth RM89.9 million from Mah Sing Group Bhd (KL:MAHSING) to build terrace homes for a housing project in Taman Tiara Indah, Johor Bharu, Johor, which pushes the value of its outstanding orders past RM1 billion.

JAKS Resources Bhd (KL:JAKS) on Wednesday said it has agreed to pay RM5 million cash to Star Media Group Bhd (KL:STAR) to settle their legal dispute over the development of a parcel of land in Section 13, Petaling Jaya.

Bank Negara Malaysia (BNM) has kept the overnight policy rate (OPR) unchanged at 3% as widely expected as it noted the continued expansion of the global economy and the sustained strength of domestic economic activities with inflation remaining "modest".

Paragon Platinum Sdn Bhd, a wholly owned subsidiary of Paragon Globe Bhd (KL:PGLOBE), commenced construction of its Desa 27 industrial development in Desa Cemerlang, Johor Bahru, last Saturday (Nov 2).

The Employees Provident Fund (EPF) has set aside a provision of RM24 million following an accounting adjustment at its Battersea joint venture (JV) firm.

Construction player Gagasan Nadi Cergas Bhd (KL:NADIBHD) is buying two companies for RM185 million, cash, to gain control of Konsortium PAE Sepakat Sdn Bhd (KPSSB), which owns a facility management concession for student hostel facilities in seven polytechnic campuses.

IOI Corp Bhd (KL:IOICORP) said on Tuesday it has allocated part of its aged plantation landbank in Johor to build a solar power plant, in a move to venture into the renewable energy sector.

The two-year contract will commence in December, said TCS, adding that it will fund the works via internally generated funds and borrowings. 

The three-phase contract was awarded to its wholly-owned subsidiary, Aneka Jaringan Sdn Bhd, by GDP Architects Sdn Bhd on behalf of Murni Lapisan Sdn Bhd. 

This move is expected to generate local investments of RM40 million to RM110 million, directed towards high-growth, high-value sectors.