News by Emir Zainul

Eco World Development Group Bhd (KL:ECOWLD) posted a 15.4% year-on-year (y-o-y) increase in net profit for the first quarter ended Jan 31, 2025 (1QFY2025) to RM80.34 million, driven by two major industrial land sales and stronger contributions from its projects in Johor.

Cahya Mata Sarawak Bhd (KL:CMSB) has initiated legal action against its deputy chairman Datuk Seri Mahmud Abu Bekir Taib over alleged breaches of trust and fiduciary duties in relation to a failed enterprise resource planning (ERP) system under the company’s digital transformation project.

Automotive leather upholstery manufacturer Pecca Group Bhd (KL:PECCA) said it is acquiring land measuring 25,350 sq m in Bandar Serendah, Rawang, to support its expansion plans.

Econpile Holdings Bhd (KL:ECONBHD) has clinched a RM27.23 million contract for substructure works for the Setia Federal Hill project (Residential Tower 1) in Kuala Lumpur.

Precision component manufacturer Northeast Group Bhd (KL:NE), which debuted on the ACE Market last October, is acquiring two leasehold properties in Seberang Perai Tengah, Penang for RM16.35 million, as part of its plan to accelerate production capacity expansion amid construction delays for its new factory.

Construction player and property developer Vizione Holdings Bhd (KL:VIZIONE) has proposed a share capital reduction of up to RM500 million to eliminate its accumulated losses and strengthen its financial position.

Exsim has mutually terminated its contract with Aperia Cloud Services for the Exsim Hyperscale Data Centre @ Bukit Jalil, opting instead to secure a "Japanese Fortune 500 company" as an anchor tenant while continuing to attract significant interest from other potential occupants.

All five contracts are deemed recurrent related-party transactions, as Exsim Hospitality’s major shareholders — Lim Aik Hoe, Lim Aik Kiat and Lim Aik Fu — who collectively hold a 70.5% indirect interest in the company, also control substantial stakes in the awarding entities through Exsim Development Sdn Bhd.

Paradigm REIT will debut with an initial fund size of 1.6 billion units and a portfolio of three properties valued at RM2.44 billion. 

Malaysia’s property transaction value surged 18% to RM232.30 billion in 2024, the highest annual figure in a decade, latest data from the Valuation and Property Services Department showed.