News by Jazlin Zakri

Gamuda Bhd (KL:GAMUDA) climbed to its highest in nearly six months on Tuesday after the group announced it had secured a renewable energy (RE) project in Tasmania, Australia. Its share price rose 18 sen or 3.76% to RM4.97, valuing the company at RM28.68 billion.

Prasarana group chief operating officer Amir Hamdan will take over as acting president and group CEO from July 15, 2025.

RHB Investment Bank estimated Gamuda Bhd's (KL:GAMUDA) core net profit could rise to between RM230 million and RM250 million for the third quarter ended April 30, 2025 (3QFY2025), the research house said in an earnings preview note.

The expanded SST may raise tenants’ operating costs and limit REITs' rental reversion, said CIMB Securities.

Property development company Encorp Bhd (KL:ENCORP), an indirect subsidiary of the Federal Land Development Authority (Felda), has appointed Ahmad Harzimi Mohd Taib as its new group CEO, with immediate effect.

Property developer Paramount Corp Bhd's (KL:PARAMON) net profit surged 87.2% to RM14.4 million in the first quarter ended March 31, 2025 (1QFY2025) from RM7.71 million a year earlier, primarily driven by the improvement in the property segment.

Bank Pembangunan Malaysia (BPMB) is providing RM33.87 million in financing to Pangolin Resort for the second phase of Lundu Beach Resort in Sarawak, which will include a 72-room hotel, 28 villas, a banquet hall and dining facilities.

CIMB Securities said Gamuda is well placed to win upcoming data centre projects at the Springhill Industrial Park, and also Google's planned sites at the Elmina Business Park and Eco Business Park. 

Johor Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han announced that Forest City’s Special Financial Zone (SFZ) has welcomed its first two family offices, CMY Capital Family Office and Yow Kee Family Office, and attracted interest from 30 other companies to set up operations in Johor Bahru.

Following the acquisition, Cyberview now controls 67 acres of freehold land — the largest landbank within the Cyberjaya City Centre.