News by Chester Tay

Magna Prima Bhd, which drew the attention of Bursa Malaysia Securities Bhd following a spike in its share price over the last three days, said it is in “final stage of negotiations for the monetisation of one of its land bank”.

The value of Fajarbaru Builder Group Bhd’s contract for the planning phase of the redevelopment of military facilities at the Royal Malaysian Air Force (RMAF) base in Butterworth, Penang has been revised to a higher sum of RM16.26 million, from RM7.36 million previously.

IGB REIT Management Sdn Bhd chairman Tan Sri Dr Lin See Yan is stepping down by Dec 31, and will be succeeded by former managing director Datuk Seri Robert Tan Chung Meng, effective from Jan 1, 2024.

Malaysia Airports Holdings Bhd (MAHB) is said to be mulling on hiring a IJM Corp Bhd-led consortium to carry on with the aerotrain replacement project that was halted in August, according to sources familiar with the matter.

UOA Development Bhd’s net profit dropped by 47% year-on-year for the third quarter ended Sept 30, 2023 (3QFY2023), in line with a lower set of quarterly revenue, coupled with higher tax expense.

OSK Holdings Bhd's net profit grew 9% to RM123.03 million for the third quarter ended Sept 30, 2023 (3QFY2023), from RM112.85 million a year earlier, as earnings improved across its industrial manufacturing, hospitality, and financial services businesses.

Sime Darby Property Bhd was actively traded on Monday morning, after its latest quarterly results beat analysts’ expectations, with the management indicating that the group is on track to surpass RM2.7 billion in sales this year.

Matrix Concepts Holdings Bhd's net profit grew 27% for the second quarter ended Sept 30, 2023 (2QFY2024) fuelled by improved construction activities as labour shortage issues dissipate.

Widad Group Bhd’s unit has secured a RM116.8 million contract to build Phase 1A of the Tok Bali Industrial Park in Gong Kulim, Kelantan for the East Coast Economic Region Development Council.

LBS Bina Group Bhd has recorded a 13.8% growth in net profit for the third quarter ended Sept 30, 2023 (3QFY2023), underpinned by better site construction activities, as well as cost savings upon delivery of vacant possession for two completed projects.