News by Izzul Ikram

LBS Bina Group Bhd has partnered with a land owner to jointly undertake a RM1 billion gross development value (GDV) mixed development in Sungai Penchala, Kuala Lumpur.

Pestech instead alleged that the rail project was experiencing serious negative cashflow issues created by SPYTL, due to rear-loaded project payment milestones and a delay in SPYTL’s works. 

“The project is for a period of 24 months from the date of commencement of July 1, 2023, and is expected to be completed by June 30, 2025.”

After recently diversifying into property development, office furniture maker AHB Holdings Bhd has proposed to also diversify into the trading of building materials, machineries and equipment in view of rising costs in the increasingly competitive furniture business.

Scientex Bhd's net profit rose 24.28% to RM109.78 million for the third quarter ended April 30, 2023 (3QFY2023) from RM88.33 million a year earlier, carried by the group’s property development business’ higher progress billing and robust demand for new launches.

Khazanah Nasional Bhd and Boustead Holdings Bhd have offloaded the assets of discontinued indoor family attraction KidZania Singapore to Singapore-listed Sim Leisure Group Ltd for S$110,000 (RM380,000), after fulfilling the requisite conditions of the deal.

The Public Accounts Committee (PAC) is calling on the government to declassify a report on Ministry of Defence land swap deals that was prepared by the Special Investigation Committee on Public Governance, Procurement and Finance, so that they can be reviewed.

Deputy Local Government Development Minister Akmal Nasrullah Mohd Nasir said there are 13 projects under the 1Malaysia Housing Programme (PR1MA) that are still abandoned.

Malaysia Building Society Bhd (MBSB) will acquire the entire equity interest in Malaysian Industrial Development Finance (MIDF) from Permodalan Nasional Bhd (PNB) via a RM1.01 billion share deal.

The agreement, which proposed AHSB to build 33 industrial lots with a gross development value of RM278.78 million, was mutually terminated by the pair.