News by M

Construction outfit Sarawak Consolidated Industries Bhd (KL:SCIB) is venturing into property development through a joint residential and commercial project in Bintulu, Sarawak.

The conference, to be held on Jan 15 at Le Méridien Petaling Jaya, is set to bring together policymakers and industry leaders. 

Based on third-quarter sales in 2025, RHB Investment Bank expects property demand to stay solid moving forward supported by resilient demand, solid sales momentum and several high-visibility catalysts.

The 8% tax was implemented on July 1, 2025, and applied to the rental of non-residential premises such as offices, warehouses and commercial assets.

The firm is 80%-owned by Pagalavan C Rangasami and 20% by Rajasulochana Pagalavan, according to a bourse filing on Monday.

The transaction is expected to generate a gain on disposal of RM4.5 million excluding estimated incidental costs, which represents a 44.7% gain over the original cost of investment, the trust said in a statement.

Malton Bhd has opened the Mutiara Kempas Sales Gallery in Johor Bahru, offering an early preview of its upcoming freehold serviced apartments in Iskandar Malaysia with easy access to Singapore for urban professionals.

Sunway Bhd has acquired three prime land parcels in Puchong and USJ 1, Selangor, and in Georgetown, Penang, for a total of RM179.8 million.

The government does not rule out the possibility of relaxing import conditions if necessary to ensure construction material costs remain low and do not burden the public, Prime Minister Datuk Seri Anwar Ibrahim said.

RHB maintained an 'overweight' momentum on the construction sector, with Gamuda Bhd (target price: RM7), Kerjaya Prospek Group Bhd (target price: RM3.45), and Sunway Construction Group Bhd (target price: RM7.32) being its top picks to buy.