News by Izzul Ikram

Eastern & Oriental Bhd’s (E&O) executive chairman Datuk Tee Eng Ho and his brother, executive director Tee Eng Seng, raised their stake in the property developer to 50.39% via the conversion of irredeemable convertible unsecured loan stocks (ICULS).

Berjaya Land Bhd (BLand) has rectified its public shareholding spread in accordance with Bursa Malaysia’s approved minimum requirement of 20%, ahead of its Sept 30 deadline.

SPNB Aspirasi Sdn Bhd, a unit of national housing development company Syarikat Perumahan Negara Bhd (SPNB), has filed another lawsuit alleging fraud against SPNB's former CEO and executive director Datuk Ahmad Azizi Ali — this time involving a service apartment project in Hulu Langat, Selangor.

Berjaya Corp Bhd (BCorp) has disposed of a 2.24% stake in Berjaya Land Bhd (BLand), ahead of its end-September deadline to comply with a public shareholding spread requirement of 20%.

Ecoscience International Bhd has secured a RM38.02 million contract for the construction of a building and substation in Kerling, Selangor.

The construction outfit said the private placement exercise entails the issuance of up to 49.49 million shares.

Ahmad Zaki Resources Bhd (AZRB) plans to undertake a private placement of 10% of its share base to raise RM12.7 million to fund the engineering and construction group’s working capital requirements.

The property developer is buying the land through its indirect wholly-owned subsidiary SkyDorm Sdn Bhd, which is principally involved in construction and letting of industrial properties.

UEM Sunrise Bhd, which is selling a 4.01-acre plot in Kiara Bay here to Melati Ehsan Holdings Bhd in a related-party-transaction (RPT), said the deal enables the group to monetise the land at its current market value while allowing it to retain control over the land's development via a development rights agreement (DRA) it has also inked with Melati Ehsan.

Axbena Sdn Bhd has decided to drop the RM27.7 million lawsuit against Johnson Medical International Sdn Bhd (JMI), an indirect subsidiary of Bintai Kinden Corp Bhd, after the parties involved reached an amicable settlement resulting in the resolution of the dispute.