News by Luqman Amin

Eden Inc Bhd’s major shareholder Tan Sri Abd Rahim Mohamad is proposing to settle a RM45.65 million debt his company owes Eden by transferring the ownership of a 2.4 million sq ft (about 55 acres) leasehold land to the listed entity.

Construction outfit Fajarbaru Builder Group Bhd has bagged a RM252.26 million contract from WCT Holdings Bhd to undertake Phase 1 of a two-phase development of two blocks of serviced apartments in Johor Bahru.

AME Real Estate Investment Trust (AME REIT) recorded a 11.9% growth in net property income (NPI) in the fourth quarter ended March 31, 2024 (4QFY2024) to RM11.4 million, from the previous corresponding quarter, driven by a 15.9% increase in rental income.

IGB Real Estate Investment Trust (IGB REIT) reported on Wednesday, a 4.79% jump in its first-quarter net property income (NPI) from a year earlier, thanks largely to higher rental income.

AIMS Group, the data centre arm of TIME dotCom Bhd, said it would start construction of AIMS Cyberjaya Block 3, with work to be completed by the second quarter of 2025 following completion of AIMS Cyberjaya Block 2.

However, Tabung Haji executive director group finance Mustakim Mohamad said he could not disclose which specific assets will be returned or when the process of returning those assets will begin.

The contract period will be 19 months, commencing from March 2024 with the expected completion by October 2025. 

Property developer Mah Sing Group announced that the conditions precedent of the sale and purchase agreements (SPAs) for its proposed acquisition of a freehold land in Hulu Langat, Selangor have been fulfilled.

Construction firm MGB Bhd has secured a contract worth RM207.03 million to undertake a two-phase property development project in Sepang, Selangor.

Morison LC Malaysia has been appointed for the financial period ending June 30, 2024, and will hold office until the conclusion of the next annual general meeting.