The latest RM111.8 million property construction job win by Kerjaya Prospek Group Bhd from sister company Kerjaya Prospek Property Bhd (KPPROP) is within its anticipated contract replenishment of RM1.5 billion to RM1.6 billion this year, analysts said.

Shares of Sarawak Consolidated Industries Bhd (SCIB) plunged 30 sen or 35.93% in Wednesday's morning session, hitting limit down for the second consecutive day, erasing all gains in the last three months.

Chin Hin Group Property Bhd (CHGP) is acquiring six parcels of land in Melaka for RM41.94 million, cash, to develop a residential project with an expected gross development value of RM1.01 billion.

Builder Kanger International Bhd has cancelled a March 2021 proposal to award a RM478 million contract to Vegetta Champion Sdn Bhd to carry out the construction of the foundation and main building works of a serviced apartment project in Genting Highlands, Pahang.

BLD Plantation Bhd has acquired two properties in Bintulu, Sarawak, for RM24 million for its business expansion.

Tan said there are a lot of initiatives and some good signs such as the revival of abandoned projects from the last two to three years.

“This marks a significant milestone in realising BDB Group’s intention to develop Lubuk Semilang as one of the premier eco-tourism hubs in Langkawi.”

The project entails the construction of a 52-storey main building works, comprising of a 42-storey serviced apartment block and an eight-storey elevated car park amongst others. 

The development, which opened to the public on Oct 14, 2022, saw strong footfall over the Christmas period, mainly driven by the opening of over 40 new shops, bars, restaurants and leisure experiences.

SCIB shares fell to as low as 92 sen, before rebounding slightly to 98.5 sen, still down 20.5 sen or 17.23% at the time of writing.