News by theedgemalaysia.com

The project is currently 76% completed and slated for completion in 4Q2023.

The company said Scientex Lestari proposes to develop the land into a mixed-development property, consisting of approximately 7,000 affordable houses.

The group, via wholly-owned subsidiary CIC Construction Sdn Bhd, had bought the initial 70% stake in RYRT International, a Kota Kinabalu-based construction player in January 2022. 

Abdul Karim was the largest shareholder in the concrete product manufacturer after he acquired a 22.53% stake or 19.35 million shares for 70 sen apiece, or RM13.54 million, in May 2019.

The 4,794 square metres land, which comes together with a single-storey detached factory annexed with a three-storey office building, is being sold to Conway Terminals Manufacturer Sdn Bhd.

Econpile Holdings Bhd has been awarded a contract worth RM35.09 million to undertake the substructure works for a commercial development in Subang Jaya, Selangor.

Fajarbaru Builder Group Bhd has secured a RM150.89 million contract for the building and related infrastructure works of an 18-storey serviced apartment and retail complex in Shah Alam, Selangor.

Sunway Bhd has appointed Datuk Mohd Anuar Taib as its independent and non-executive director, effective Friday (July 7).

RHB Investment Bank research has maintained its “neutral” rating on UOA Development Bhd (UOAD) at RM1.58 with a lower target price (TP) of RM1.71 (from RM1.86) and said the developer’s launches are going as planned and UOA Development’s new F&B business should complement its property projects.

Rakuten Trade has rated SkyWorld Development Bhd a “buy” at 80 sen with a target price (TP) of 96 sen based on the average PER of 8x and P/BV 0.8x.