News by Adam Aziz

The group has changed its financial year end to June 30, 2020 from Dec 31, 2019 after the emergence of YTL Cement Bhd as its largest shareholder.

The job was awarded by R&F Development Sdn Bhd to Ranhill’s wholly-owned unit Ranhill Water Technologies Sdn Bhd (RWT), and that it will be completed in the next nine months.

The weaker hotel segment was caused by the weakening of the Australian dollar against the ringgit, the REIT said, noting revenue and net property income from its Australian properties had improved due to continuous improvement in room sales subsequent to the completion of refurbishment of Brisbane Mariott, as well as operational efficiency and cost savings.

This follows an earlier Heads of Agreement with SHSB’s shareholders, Prihatin Ehsan Holdings Sdn Bhd and Training Camp Aabata Sdn Bhd, for the acquisition of 90% of SHSB last October.

In a filing today, Heng Huat cited “personal matter” as the reason for Teoh’s resignation.

The meeting had been called by the company’s current directors, who are embroiled in a boardroom tussle with Safari Alliance Sdn Bhd, which has a 11.83% stake in Tiger Synergy.

In a statement, Lim said the Ministry of Finance (MoF) noted that cashflow is a "principal concern” for parties that have been economically affected by the outbreak.

In a statement, Azmin said the Government will ensure that the stimulus package, as well as development projects that have been approved for this year, will be implemented promptly.

The land is owned by Golden Valley Industries Sdn Bhd.

In a note today, OCBC pointed to how Malaysia’s economy slowed in 4Q19, even before the COVID-19 outbreak, which occurred at the start of this year.