News by John Lai

UOA Development Bhd (KL:UOADEV) posted a 50.3% jump in fourth-quarter net profit, lifted by a sizeable revaluation surplus on its investment properties, despite weaker revenue from slower progress billings.

Cahya Mata Sarawak Bhd (KL:CSMB) reported a 70.3% drop in fourth-quarter net profit, due to the absence of RM48.41 million in foreign exchange (forex) gains, higher precommissioning costs for its phosphate plant and lower contributions from associates.

Transport Minister Anthony Loke has expressed disappointment over repeated breakdowns on the LRT Kelana Jaya Line, which has disrupted travel for thousands of Klang Valley commuters on Tuesday.

GDB Holdings Bhd (KL:GDB) is acquiring three parcels of leasehold land in Kuching, Sarawak for RM32.72 million, marking its expansion into property development there.

GDB Holdings Bhd (KL:GDB) said its wholly-owned subsidiary Grand Dynamic Builders Sdn Bhd has obtained a favourable High Court judgment against KSK Land Sdn Bhd, which is in liquidation, to recover amounts owed for works on the 8 Conlay project.

Iskandar Waterfront City Bhd (KL:IWCITY) is disposing of a parcel of vacant land measuring 16.43 acres in Plentong, Johor Bahru, for RM71.55 million.

Non-executive chairman Datuk Seri Chia Lui Meng, who served for more than eight years, has resigned citing personal commitments.

WCT Holdings Bhd (KL:WCT) has proposed a sukuk wakalah programme of up to RM5 billion to fund working capital and refinancing of borrowings.

Haily Group Bhd (KL:HAILY) has secured a RM48.21 million contract to build double-storey houses in Taman Impian Emas, Skudai, Johor.

AME Elite Consortium Bhd (KL:AME) has secured a RM214.1 million contract from KLIA Aeropolis Sdn Bhd, a subsidiary of Malaysia Airports Holdings Bhd, to build the first phase of a specialised test cell facility in Sepang.