News by M

Matrix Concepts Holdings Bhd has sold industrial land within its MVV City development to logistics firm Golog Holdings Sdn Bhd to incorporate cold chain infrastructure into the Malaysia Vision Valley 2.0 (MVV 2.0) corridor, reinforcing the region's emergence as an integrated industrial and logistics hub.

The Real Estate and Housing Developers' Association Malaysia (Rehda) has expressed appreciation to the Ministry of Housing and Local Government (KPKT) for its continued commitment to supporting the housing industry through Inisiatif Simen Rahmah amid rising construction material costs and ongoing global economic pressures.

IGB Bhd posted a profit before tax (PBT) of RM621.47 million for the first quarter ended March 31, 2026, surging 219% from RM194.78 million in the corresponding quarter of 2025, primarily driven by a one-off gain from the strategic divestment of UK-based hotel assets and robust performance across its core property investment and hotel segments.

Hospitality operator EXSIM Hospitality Bhd (KL:EXSIMHB) has secured a RM45 million contract from AmFIRST Real Estate Investment Trust (AmFIRST REIT) (KL:AMFIRST) to redevelop Summit Hotel USJ in UEP Subang Jaya, Selangor, into a 17-storey hotel with three basement levels.

Batu Kawan Bhd (KL:BKAWAN), through its wholly-owned subsidiary Whitmore Holdings Sdn Bhd, has agreed to acquire a combined 47.7% stake in MKH Bhd (KL:MKH) for RM549.8 million, or RM2 a share, from the Chen family.

UEM Sunrise Bhd maintained profitability in the first quarter ended March 31, 2026, posting a profit before tax (PBT) of RM22.49 million and revenue of RM347.71 million, as its property development segment recorded a strong 24% revenue increase driven by improved sales and construction progress from key Central region projects.

Kerjaya Prospek Group Bhd (KL:KERJAYA) has secured two contracts worth RM102.6 million for construction works at Andaman Island, Penang, expanding its outstanding order book to RM4.4 billion.

Two police reports have been lodged against allegations that houses in Taman Segar, Cheras had been changed from leasehold to freehold, Minister in the Prime Minister’s Department (Federal Territories) Hannah Yeoh said.

S P Setia Bhd posted a profit before tax (PBT) of RM108 million and revenue of RM826 million for the first quarter ended March 31, as the group continued its debt reduction drive, trimming borrowings by RM500 million and improving its net gearing ratio to 0.31 times from 0.33 times at end-2025.

UDA Holdings Bhd (UDA) has launched its latest housing project, Residensi Mutiara in Johor, offering freehold townhomes priced from RM548,700 as part of efforts to expand homeownership opportunities and provide quality housing.