News by Choy Nyen Yiau

Raising the overnight policy rate (OPR) may no longer be "relevant” given the decline of headline inflation to below 2% recently, said Deputy Finance Minister Datuk Seri Ahmad Maslan.

Industronics Bhd said it had entered into a memorandum of agreement (MOA) on Friday to negotiate a proposed collaboration to construct an international duty-free city on Pulau Langkawi.

KIP Real Estate Investment Trust (REIT) reported a 15.2% surge in net property income (NPI) for the first quarter ended Sept 30, 2023 (1QFY24), despite its NPI margin declining marginally to 73.8% during the quarter compared with 74.1% in the corresponding quarter.

Charger point operators (CPOs) have been given a two-year period to submit applications for existing completed and operational electric vehicle charging bays (EVCBs) to local authorities, as announced by Minister of Local Government Development Nga Kor Ming.

Audit checks revealed that as of Dec 31, 2022, RAC had not collected property rental income from 12 tenants, amounting to RM170,474, as stipulated in their agreements.

The Bill was tabled by Natural Resources, Environment and Climate Change Deputy Minister Datuk Seri Huang Tiong Sii. 

Kumpulan Jetson Bhd announced a slew of boardroom changes on Friday, including the appointment of Datuk Tengku Ibrahim Farihaddin Datuk Tengku Feissal, the treasurer of Koperasi Kerabat D'Raja Kelantan Al-Muhammadi Bhd, as its independent and non-executive chairman with immediate effect, on the resignation of the group's executive chairman Datuk Teh Kian An, 75, due to health issues.

On Sept 27, Sunway Bhd, through a statement, announced that its 70% owned subsidiary, Umech Land Sdn Bhd, had entered into a joint development agreement with PDC to develop a 559-acre prime industrial land in Batu Kawan, Penang, in exchange for a land entitlement of RM646.02 million.

Gamuda Bhd rose as much as 25 sen or 5.8% to RM4.56 in Friday morning trade, hitting a record high after the construction giant's FY2023 net profit more than doubled to RM1.84 billion from RM806.23 million a year earlier, largely fuelled by gains on the divestment of its highways.