Lagenda said the acquisition is part of the group’s land banking strategies, targeting strategic locations nationwide to expand its affordable property development footprint and market presence.

This is the third contract award secured by Muhibbah in the last three months.

The firm said the latest data showed that growth already slowed to 7.0% year-on-year (y-o-y) in the fourth quarter of 2022 (4Q2022), from 14.2% in the previous quarter, and the slowdown was broad-based.

The rating agency has also made similar revisions to the outlook of Genting's wholly owned subsidiaries Genting Overseas Holdings Ltd (GOHL) and Genting Singapore Ltd (GENS).

“Tan stays on as adviser following his resignation as group CEO to provide guidance to support the continued growth of Signature International.”

Ageson added that Chin denied his involvement and believed that the allegation was targeted at him personally.

Matang Bhd is buying property assets from Star Media Group Bhd for RM33 million as part of its plan to diversify its business into property investment.

“From the Sabah state government’s perspective, I think the programme makes all sense to them. The programme requirements are not difficult to achieve, but the only question is, how many of these potential foreigners are interested in Sabah as a second home?”

Bina Darulaman Bhd, through its unit BDB Infra Sdn Bhd, has been awarded a RM34.08 million contract by the Ministry of Agriculture and Food Security to develop a tertiary irrigation system in Kedah and Perlis.

Penang-based property developer Ivory Properties Group Bhd has appointed Messrs UHY as the company’s new auditor following the resignation of Messrs KPMG PLT.