News by Izzul Ikram

Cahya Mata Sarawak Bhd (KL:CMSB) has aborted its joint venture project to build a four-star hotel and serviced apartments in Kuching Isthmus, a business district in Kuching, Sarawak, with its joint venture (JV) partners.

The Malaysia Retailers Association (MRA) has expressed concerns about the government's decision to increase the base electricity tariff, arguing that it will negatively impact the country's competitiveness and economic recovery.

Gamuda Bhd is acquiring 389.7 acres of land in the Springhill Industrial Park, Port Dickson for RM424.4 million, cash, from a joint venture (JV) between MUI Properties Bhd (MUIPROP) and Chin Teck Plantations Bhd.

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Malaysian Resources Corp Bhd (KL:MRCB) has withdrawn from the Berjaya-led consortium bidding for the multi-billion-ringgit Kuala Lumpur-Singapore high-speed rail (HSR) project, Berjaya Group announced on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