News by Izzul Ikram

Johan Holdings Bhd (KL:JOHAN) said its 80%-owned unit is selling a hotel in Lumut, Perak, and three adjoining parcels of land for RM47.43 million in cash—a value that almost doubled its market capitalisation of RM24.33 million as of Monday (Feb 16).

Oriental Kopi Holdings Bhd (KL:KOPI) has firmed up a deal to acquire the premises it currently rents as its head office and warehousing facility in Puchong for RM23 million in cash.

TXCD Bhd (KL:TXCD), a construction and property development player formerly known as Ageson Bhd and a Practice Note 17 (PN17) company, announced it has secured subcontracts valued at RM119.14 million for construction work in Kuala Lumpur from Vestland Bhd (KL:VLB).

Bakery product maker and retailer SDS Group Bhd (KL:SDS) is buying a 14.3-hectare (35.4 acre) land in Johor Bahru for RM101.7 million to build a new manufacturing facility.

Property developer NCT Alliance Bhd (KL:NCT) is looking at a potential partnership with Guangzhou Great Power Energy & Technology Co Ltd (Great Power) to explore battery energy storage system (BESS) projects in Malaysia.

Sentoria Group Bhd (KL:SNTORIA) announced on Thursday that developer Masteron Sdn Bhd will take over its troubled 204-acre development in Morib, Selangor, after the group admitted it was unable to complete the project.

Pavilion Real Estate Investment Trust (KL:PAVREIT) saw its net property income (NPI) in the fourth quarter rise 11.1% from a year earlier, fuelled by rental income from its newly acquired hotels.

Advancecon Holdings Bhd (KL:ADVCON) has secured an RM82.09 million contract to undertake earthworks and main drainage works for a development in the Johor-Singapore Special Economic Zone (JS-SEZ).

Sustained demand for mining equipment in Australia is expected to boost the industrial segment’s earnings, while a delay on a tax revision on locally assembled vehicles will likely spur the motor segment, CGS said in a note on Monday.

The Urban Renewal Bill has been retracted by the Cabinet to allow for improvements to be made, according to Communications Minister Datuk Fahmi Fadzil.