News by Justin Lim

Agrochemical businessman Datuk Eddie Ong Choo Meng has emerged as a substantial shareholder in Hektar Real Estate Investment Trust (Hektar REIT), after acquiring a 28.462% stake, or 143.9 million shares, in the company.

Radium Development Bhd, which was just listed on the Main Market of Bursa Malaysia less than half a year ago on May 31, posted a net profit of RM3.76 million for its third quarter ended Sept 30, 2023 (3QFY2023), on the back of revenue of RM46.78 million.

Axis Real Estate Investment Trust (REIT) is acquiring industrial premises in Negeri Sembilan for a cash consideration of RM48 million.

Global Oriental Bhd, whose revenue is mainly derived from property development, is acquiring a 55% stake in a car park management firm to expand its earnings base.

Bina Puri Holdings Bhd announced that its wholly owned subsidiary Bina Puri Sdn Bhd (BPSB) has been served with a winding-up petition from the lawyers of Thai Soon Hang (Sabah) Sdn Bhd at the High Court of Sabah and Sarawak, due to a default payment amounting to RM198,116.60.

Jasa Kita Bhd is disposing of a parcel of land for cash consideration of RM43.08 million in a related party transaction.

Integrated construction and property firm PTT Synergy Group Bhd (PTTS) has diversified into the warehouse leasing business as it seeks alternative sources of revenue from recurring income properties.

Lion Industries Corp Bhd’s proposed RM92.03 million land disposal announced on Sunday has raised questions from Bursa Securities.

IGB Bhd’s net profit more than doubled to RM112.04 million in the second quarter ended June 30, 2023 (2QFY2023), from RM49.79 million a year earlier, on the back of a higher revenue and increased forex gains. Earnings per share rose to 8.30 sen, from 3.68 sen.

Chin Hin Group Bhd posted a 43.18% drop in its net profit to RM21.87 million for the second quarter ended June 30, 2023 (2QFY2023), from RM38.49 million a year earlier, amid a lower fair value gain on other investment.