News by Luqman Amin

IOI Properties Group Bhd (KL:IOIPG) has received a proposal from its group chief executive officer cum major shareholder Lee Yeow Seng to participate in the development of Shenton House, a commercial property located in Singapore that his private vehicle has successfully tendered for, for S$538 million (RM1.9 billion).

Ekovest Bhd (KL:EKOVEST) reported on Friday a smaller loss in its latest quarterly results compared with a year earlier despite still grappling with high finance costs. 

Analysts foresee Gamuda Bhd (KL:GAMUDA) to bag more project portfolios in the data centre (DC) sector, after the engineering and construction company recently secured contracts for the construction of a hyperscale DC in Elmina Business Park, with a combined value of RM1.7 billion.

Shares of Sime Darby Property Bhd (KL:SIMEPROP) surged to a fresh six-year high on news of the developer’s entry into the data centre space while analysts scrambled to raise their target prices.

Amid challenges posed by rising construction material costs and potential fuel subsidy rationalisation, Sime Darby Property Bhd (KL:SIMEPROP) said it is confident of continuing to defend its profit margin via a strategic product mix.

KLK’s net profit fell 38.65% to RM117.07 million or 10.8 sen per share, from RM190.81 million or 17.70 sen per share a year earlier.

Shares of S P Setia Bhd (KL:SPSETIA) soared to their highest in nearly six years after the property developer reported a 39% year-on-year gain in net profit for the first quarter of the year.

Solarvest Holdings Bhd (KL:SLVEST) said on Thursday that it has secured a contract worth RM40.40 million to install rooftop solar photovoltaic systems.

Presently, the funds under AHB are managed by Maybank AB while its sponsor is PHB and its trustee is AmanahRaya Trustees Bhd.

JAKS Resources Bhd's unit has signed a memorandum of understanding (MOU) with China-based CALB Group Co Ltd to explore opportunities in the battery energy storage system (BESS) market, with a particular focus on the Southeast Asia region.