Eversendai Corp Bhd said its independent auditors have raised concerns about the loss-making construction firm’s ability to operate as a going concern in its audited financial statements for the year ended Dec 31, 2022 (FY2022). 

Steel products manufacturer YKGI Holdings Bhd said its venture into construction and property development will potentially contribute 25% or more to the group's net profit or net assets.

This came after the open-ended fund, established in the Cayman Islands, disposed of 3.13 million shares in Impiana on Wednesday (May 3),  according to a bourse filing on Friday.

Maju Offshore Sdn Bhd has emerged as a substantial shareholder of Bina Puri Holdings Bhd with a deemed interest of 5.03% in the construction company.

Genting Malaysia Bhd via its wholly owned subsidiary GenM Capital Bhd has issued medium-term notes (MTNs) of RM500 million across three tranches.

The banking sector emerged a winner, while the property and real estate investment trust (REIT) sectors were the unfortunate recipients of Bank Negara Malaysia’s (BNM) surprise move to increase the overnight policy rate (OPR) by 25 basis points (bps) to 3% on May 3, 2023.

Fitch Solutions sees Bank Negara Malaysia (BNM) at the end of its hiking cycle, leaving the overnight policy rate (OPR) on hold at 3% for the rest of 2023.

While most economists see no further overnight policy rate (OPR) hikes by Bank Negara Malaysia for the remaining three monetary policy meetings in 2023, CGS-CIMB Research sees the possibility of another increase in the second half of this year.

Economists positively viewed Bank Negara Malaysia's (BNM) surprise hike in the overnight policy rate (OPR) by 25 basis points to 3% on Wednesday (May 3), as they considered the move an indication of the domestic economy's resilience.

Chin Hin Group Property Bhd, via its subsidiary Stellar Platinum Sdn Bhd, signed a joint development agreement (JDA) with Ivory Properties Group Bhd, via its wholly-subsidiary Ivory Meadows Sdn Bhd, to develop the RM475 million Crown Penang, which is targeted for launch in 2Q2024. This will be Chin Hin’s first foray into Penang