News by Emir Zainul

The temporary closure of KL Tower — the first since it began operations — has not calmed the dispute between the government and former operator Menara Kuala Lumpur Sdn Bhd (MKLSB).

Paramount Corp Bhd (KL:PARAMON) said its 70%-owned unit, Tanah Bayumas Sdn Bhd (TBSB), and two others are being sued over its RM145 million purchase of a luxury condominium site in Taman U-Thant.

Magma Group Bhd (KL:MAGMA), formerly known as Impiana Hotels Bhd, announced that its proposed acquisition of five parcels of land in Tioman Island for the development of a resort has lapsed, following the expiry of conditions precedent set out in the sale and purchase agreements (SPAs).

YNH Property Bhd (KL:YNHPROP) has begun implementing governance reforms in response to the findings of an independent review into RM1.1 billion worth of joint venture (JV) and turnkey contracts, the group said in a statement on Thursday.

KIP Real Estate Investment Trust (KL:KIPREIT) is acquiring four retail properties worth RM118 million in Kuala Selangor and Kuantan, Pahang, marking a strategic suburban expansion.

Seremban Engineering Bhd (KL:SEB) has proposed to dispose of a piece of  land together with a detached factory near Seremban for RM19.5 million, as part of the company's business rationalisation plan.

KPJ Healthcare Bhd (KL:KPJ) has proposed to inject two hospital properties into Al-'Aqar Healthcare Real Estate Investment Trust (Al-Aqar REIT) (KL:ALAQAR) for a combined consideration of RM241 million via a sale-and-leaseback arrangement.

Crescendo Corporation Bhd (KL:CRESNDO) has reported a record-high earnings for the financial year ended Jan 31, 2025 (FY2025), thanks to data centre land sales in Iskandar Puteri.

Gamuda Bhd (KL:GAMUDA) reported a 4.8% year-on-year increase in net profit for the second fiscal quarter thanks to domestic construction projects, particularly the Penang land reclamation works.

Property developer and construction firm Lim Seong Hai Capital Bhd (LSH Capital) (KL:LSH) on Wednesday said it plans to rejuvenate the 10-acre area around KL Tower into an integrated destination for tourism, retail and cultural engagement.