News by theedgemalaysia.com

Hextar Technologies Bhd (HexTech) has agreed to terminate the deal to sell two parcels of land measuring a total of 235,213 sq ft, located in Pasir Gudang and Klang, to SWS Capital Bhd for RM23.66 million.

LFE Corp Bhd's unit signed a deal on Wednesday (Aug 16) to jointly develop a housing project on 175 hecatres land in Gurun, Kedah.

Country Heights Holdings Bhd, the property developer founded by tycoon Tan Sri Lee Kim Yew, has defaulted on the payment of Islamic term financing facilities totalling RM89.67 million provided by MBSB Bank Bhd.

The first phase of IJM Land Bhd’s Nexus, which comprises 166 shop offices in the 2,300-acre Seremban 2 township, has been 80% taken up since its launch on July 22.

Construction outfit Inta Bina Group Bhd’s unit has clinched a contract from Southville City Sdn Bhd for related works at Phase 1 and 2 of SouthvilleCity-M Sinar for RM206 million — an amount that is almost double its market capitalisation.

Mah Sing Group Bhd said the purchase price of two parcels of land in Puchong Perdana it is acquiring from Millennium Acres Sdn Bhd has been lowered by 8.83% or RM7.58 million.

The upcoming mixed-use residential precinct will comprise the delivery of dual towers featuring approximately 430 apartments across both plots of land, alongside 12% affordable housing, though these are subject to development approval with further details to be determined.

After the group's results for 1HFY2023 came in within expectations, Kenanga Research expects the earnings pattern seen during the period to continue holding up in the coming quarters.

The research house has maintained its “add” rating on Malayan Cement at RM3.25 with a higher target price of RM5.55 (from RM5.08) and raised the company’s earnings per share by 4% for the financial year 2023 (FY2023), by 32% for FY2024 and by 29% for FY2025.

The group saw quarterly revenue grow 12.65% to RM394.63 million from RM350.31 million on the back of improved performance across all business segments.