News by Jason Ng

The transaction is expected to generate a gain on disposal of RM4.5 million excluding estimated incidental costs, which represents a 44.7% gain over the original cost of investment, the trust said in a statement.

The research house raised its target price for Gamuda by RM1.15 to RM11.67, the highest among 21 covering the stock, and maintained its “buy” call.

Hartanah Kenyalang Bhd, a Sarawak-based construction services firm, has filed for an initial public offering (IPO) on the ACE Market of Bursa Malaysia to raise funds for expansion and to finance existing operations.

SPB Development Bhd, a real estate developer, filed for an initial public offering (IPO) on the Main Market of Bursa Malaysia to raise funds to acquire more land and finance existing projects.

Lim Seong Hai Capital Bhd (KL:LSH), a construction and engineering firm, has filed for an initial public offering (IPO) as part of its listing transfer to the ACE Market, from the LEAP Market.

Intel Corp will delay the operations of a new plant currently being built in Malaysia as the world’s largest computer chip maker grapples with declining sales and mounting quarterly losses.

The Malaysian government on Friday announced incentives to jumpstart the Forest City special financial zone that include special corporate income tax rates and 0% tax rate for family offices.

Shares of Eco World Development Group Bhd (KL:ECOWLD) rose on Friday to their highest in seven weeks after the property developer reported better-than-expected third-quarter results.

Shares of WCT Holdings Bhd (KL:WCT) rose on Thursday as investors lauded a planned listing of a real estate investment trust, while analysts praised the move that would help pare the company’s debts.

A widely expected US policy rate cut this week will boost Malaysian stocks in the oil and gas (O&G), real estate investment trust (REIT), and large-cap banking sectors, Kenanga Investment Bank said.