News by Chelsea J Lim

Negeri Sembilan-based property developer GD Properties on Thursday officially launched KL360, a mixed-use development with a gross development value (GDV) of RM1.37 billion. The project was previously an abandoned development called M101 Skywheel.

Construction group Binastra Corp Bhd's (KL:BNASTRA) fourth quarter net profit climbed by nearly 70% to RM42.4 million from RM25.1 million a year ago, amid a rise in the number of ongoing projects.

Construction company Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM99.28 million construction project in Cyberjaya, Selangor, from ParkCity Botanika Sdn Bhd.

Property developer Rivertree STF Synergies Bhd (KL:RSSB) plans to diversify into the management of centralised labour quarters to reduce overall earnings volatility, it said in a bourse filing on Thursday.

Binastra Corporation Bhd (KL:BNASTRA) has been appointed to complete construction of Subang Sentral for RM316 million and revive the long-stalled project in Subang Jaya.

Axis REIT (KL:AXREIT) aims to convert its remaining loans to sustainability-linked financing and explore more of such funding as the real estate investment trust expands its portfolio.

The trust said it will also benefit from profit rebates tied to achieving pre-agreed sustainability targets.

IJM Corporation Bhd (KL:IJM) said it is reviewing the strategy for its key businesses, including monetising part of its vast land bank at its property division, after rebuffing a takeover offer.

IJM Corporation Bhd (KL:IJM) said a takeover bid now on the table reflects the low point in its earnings cycle as the company urged shareholders to reject the offer.

Paramount Corp Bhd (KL:PARAMON) is aiming for higher property sales this year and is confident that its margins will withstand cost pressures amid Middle East tensions.