Consequently, YNH had to terminate the RM270.5 million sale on Jan 26, about 14 months after YNH had sealed the deal.

Chin Hin, which owned a 28.72% stake in Signature as at Jan 16, is proposing to buy another 4.77% stake from Teoh Hai Hin and Por Tong Eng for RM25.45 million cash or 84 sen per share.

Earnings per share grew to 0.54 sen for 3QFY2024 from 0.2 sen a year ago.

Net income rose to RM9.95 million or 1.90 sen per unit for 3QFY2024, from RM8.33 million or 1.60 sen per unit a year ago.

This move is consistent with the Titijaya group's growth strategy, which involves expanding its land portfolio and investing in strategically located development properties within the Klang Valley.

The value of RM27 million, negotiated on a willing buyer, willing seller basis, is in line with the independent market valuation of RM28.2 million commissioned by MTrustee. 

The group said it is seeking further business opportunities in the construction and property development industry.

However, AZRB clarified that AZSB is not a major subsidiary of the company, and it does not anticipate any financial or operational impact due to the petition.

Scientex said its wholly-owned subsidiary Scientex Heights Sdn Bhd has entered into a conditional sale and purchase agreement with Singapore-incorporated Guan Hong Plantation Pte Ltd for the proposed acquisition. 

The decline in net profit was attributed to the better gross margin previously amid the finalisation of development costs of Garden Terrace and South Tower in the group's Emerald Hills project in Cheras, and increased construction costs due to material price hikes.