News by Izzul Ikram

Paragon Globe Bhd’s (KL:PGLOBE) shareholders have approved the Johor-based property developer’s various land deals as well as its joint development with a unit of Tropicana Corp Bhd (KL:TROP).

The government has removed the 85% demand capacity cap for non-domestic users under its self-consumption (SelCo) programme, and to allow the installation of solar panels on the ground and over bodies of water.

Malaysian Resources Corp Bhd (KL:MRCB) has withdrawn from the Berjaya-led consortium bidding for the multi-billion-ringgit Kuala Lumpur-Singapore high-speed rail (HSR) project, Berjaya Group announced on Wednesday.

Quality Concrete Holdings Bhd (KL:QUALITY) has secured a RM75 million construction contract in Kuching, Sarawak.

Kerjaya Prospek Property Bhd (KL:KPPROP) said it will redeem the outstanding 1.72 billion redeemable convertible preference shares (RCPS) issued in 2019 by the investment vehicle of its controlling shareholder Datuk Tee Eng Seng for RM292.07 million on Jan 9.

Eco World Development Group Bhd’s (KL:ECOWLD) largest shareholder and deputy chairman Datuk Leong Kok Wah has been redesignated as a non-independent non-executive director, effective immediately.

Gamuda Bhd (KL:GAMUDA) reported that its net profit climbed 5.31% in the August-October quarter as revenue jumped on improved contributions from all segments. It also achieved a record high order book of RM30 billion.

Mara Inc and ACE Market-listed Privasia Technology Bhd (KL:PRIVA), a business process outsourcing company, are teaming up to develop and operate a data centre in Bagan Datuk, Perak.

Pavilion Real Estate Investment Trust (KL:PAVREIT) has proposed to buy two hotels in Kuala Lumpur for an aggregate RM480 million, and undertake a private placement to raise up to RM552 million to fund the acquisitions.

LBS Bina Group Bhd (KL:LBS) said that it is unlikely for the group to meet its internal sales target of RM1.8 billion this year, due to deferred launches caused by a lengthy approval process.