News by M

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.

Construction outfit TRC Synergy Bhd (KL:TRC) said it has secured a RM142.34 million subcontract for the "proposed transformation" of a state legislative building.

Favelle Favco Bhd said it is spending A$39.8 million (RM123.98 million) to develop two units of single-storey logistic warehouses on its freehold land near Sydney, Australia.

MKH Bhd (KL:MKH) said its net profit fell 17.23% to RM20.74 million for its second quarter ended March 31, 2024 (2QFY2024), from RM25.06 million a year earlier, dragged down by lower unrealised foreign exchange gains. Earnings per share dropped to 3.59 sen from 4.34 sen previously.

Engineering and construction company Gamuda Bhd (KL:GAMUDA) announced on Friday that it has secured contracts worth a combined value of RM1.74 billion to build a hyperscale data centre for Sime Darby Property Bhd (KL:SIMEPROP) at the latter’s Elmina Business Park.

Property developer Scientex Bhd (KL:SCIENTX) said on Friday it is acquiring land in Seberang Perai, Penang for RM462.50 million to expand its land bank for future development.

Taiwan-based Siliconware Precision Industries Co Ltd broke ground on Friday for its semiconductor packaging and testing facility worth RM6 billion at Bandar Cassia Technology Park in Penang.

According to a report by URBANET, “property values tend to increase in proximity to green spaces”, making buying a home close to parks in the neighbourhood a smart investment.

Shares of utilities-to-hotels conglomerate YTL Corporation Bhd (KL:YTL) and its related stocks on Friday snapped consecutive days of rally despite notching earnings growth in their third quarter (3QFY2024) financial results.

YTL Corp Bhd (KL:YTL) posted a 19.8% increase in net profit for its third financial quarter ended March 31, 2023 (3QFY2024), as all of its business segments — construction, cement and building materials, property investment and development, management services and others, hotels, and utilities — reported higher earnings.