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MBSB completes RM1.01b acquisition of MIDF

Malaysia Building Society Bhd (MBSB) has completed its acquisition of Malaysian Industrial Development Finance Bhd (MIDF) from Permodalan Nasional Bhd (PNB) for RM1.01 billion worth of new share issuance at 96.52 sen per share.

Maybank IB expects Gamuda’s core net profit to hit RM1b mark in FY2025

Maybank Investment Bank Research (Maybank IB) has maintained its “buy” rating for Gamuda Bhd at RM4.31, with an unchanged target price (TP) of RM4.80, and said Gamuda’s core net profit (CNP) for the financial year ended July 31, 2023 (FY2023) was 104% of the house forecast (in line), and 110% of the consensus (above).

Sunway ceases to be substantial shareholder of IJM

Sunway Bhd, and in turn its founder and executive chairman Tan Sri Jeffrey Cheah Fook Ling, have ceased to be a substantial shareholder of construction giant IJM Corp Bhd following a 0.08% stake disposal.