News by Choy Nyen Yiau

OCR Group Bhd (KL:OCR) is planning to acquire a 49% stake in Chester Properties Sdn Bhd, a property and investment consultancy firm, through the issuance of new shares.

OCR Group Bhd (KL:OCR) entered into a deal on Tuesday with Magna Prima Bhd (KL:MAGNA) to sell 4.58 acres of their 20-acre development property in Section 15, Shah Alam, for RM45 million.

IJM said it had received a letter from the MACC clarifying that "the investigation is confined to several individuals associated with IJM, and not the company itself”.

Berjaya Property Bhd (KL:BPROP), formerly Berjaya Land Bhd, has appointed Johor princess Tunku Tun Aminah Sultan Ibrahim as its new non-independent non-executive chairman, filling a role that had been vacant for more than two years.

The contract was awarded to the company’s unit, Kitacon Sdn Bhd, by Rawang Lakes Sdn Bhd, according to a filing to the stock exchange.

Construction and property player AME Elite Consortium Bhd (KL:AME) is acquiring two parcels of freehold land measuring a total of 31.82 acres in Senai, Johor, for RM101.18 million, cash, from Nice Frontier Sdn Bhd (NFSB).

Magma Group Bhd (KL:MAGMA) said on Thursday it plans to acquire the LUMA Hotel in Kota Kinabalu for RM60.9 million in a cash-and-shares deal, to expand its hotel portfolio.

Malaysia’s anti-graft agency said it has opened an investigation paper linked to Sunway Bhd’s (KL:SUNWAY) ongoing takeover offer for IJM Corp Bhd (KL:IJM).

Light Rail Transit 3 (LRT3)’s main contractor could face penalties of more than RM475 million due to project delays, Transport Minister Anthony Loke said.

“The government is currently reviewing the proposal before presenting it to the Cabinet for a decision.”