The Penang South Island (PSI) reclamation project, which has been scaled down from three islands to one following a request from the prime minister, will finally kick off with Gamuda Bhd starting Phase 1 of the reclamation works worth RM3.717 billion on July 1.
After recently diversifying into property development, office furniture maker AHB Holdings Bhd has proposed to also diversify into the trading of building materials, machineries and equipment in view of rising costs in the increasingly competitive furniture business.
Nomura Research said it was “negatively surprised” by the news of the collapse of the proposed sale by Genting Malaysia Bhd (GenM) of a 15.5-acre block of land in Miami, Florida for US$1.23 billion.
Sunsuria Bhd’s unit is acquiring 80% equity interest in property developer Mayer Land Sdn Bhd (MLSB) for RM800,000 that will enable it to participate in two Rumah Selangorku projects and a mixed development in Penang that have been awarded to MLSB.
Mah Sing Group Bhd has named former navy chief Admiral (R) Tan Sri Abu Bakar Abdul Jamal as its chairman.
Glomac Bhd’s net profit fell 15.58% to RM13.92 million for its fourth quarter ended April 30, 2023 (4QFY2023), from RM16.49 million a year earlier, mainly due to higher expenses and finance costs.
Genting Malaysia Bhd (GenM) said the purported purchaser of its of its 15.5-acres of land in Miami has elected to end its current bid.
Coworking and flex space provider WORQ said its launch of WORQ Express at Alunan Resort in Pulau Perhentian, Terengganu, signifies its first step in countrywide expansion to provide workspaces and meeting facilities everywhere, including cities, suburbs and remote digital nomad hubs.
Due to higher construction material prices, TCS Group Holdings Bhd has scrapped its plan to develop a condominium project, known as Arcadia, in Kuala Langat, Selangor.
Datuk Noorazman Abd Aziz is resigning from his post as chairman of UEM Sunrise Bhd from July 1, after he was redesignated to chairman of CTOS Digital Bhd on May 26.
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