A former senior vice-president of Finance and Corporate Services of Consortium Zenith BUCG Sdn Bhd (CZBUCG) told the Sessions Court on Thursday (July 20) that former senior director Datuk Zarul Ahmad Mohd Zulkifli told him and another former director of the company that Zarul had bribed former Penang chief minister Lim Guan Eng in relation to the Penang undersea tunnel project.
Suria KLCC Sdn Bhd, a retail asset management group, has commenced a major redevelopment of Alamanda Shopping Centre in Putrajaya. The project, which commenced on June 20 this year, is expected to complete in the fourth quarter of 2024.
Tropicana Corp Bhd is poised to launch SouthPlace 2 Residences serviced apartments and SouthPlace 2 Shoppes retail lots within its 88-acre Tropicana Metropark township in Subang Jaya in 3Q2023.
Property Developer UEM Sunrise Bhd piqued investor interest as its share price reached a two-year high and its shares were traded actively on Bursa Malaysia in the morning session on Thursday (July 20).
RHB Research has maintained an "overweight" call on the construction sector, with awards from the public sector seen picking up post-state elections in August, should the status quo be maintained.
It seems that higher interest rates and tight credit in the US may have had a hand in the collapse of Genting Malaysia Bhd’s billion-dollar Miami waterfront real estate sale in June, though indications are that interest on the prime property remains strong.
ACE Market-listed Tex Cycle Technology (M) Bhd is disposing of a three-storey detached industrial building constructed on a piece of leasehold land measuring 4,823 sq m in Jalan Kuchai Lama, for RM29 million.
Builder Siab Holdings Bhd is acquiring Taghill Projects Sdn Bhd for RM122 million to be fully satisfied via a combination of RM96 million cash and RM26 million via issuance of Siab shares at an issue price of 13 sen each. Taghill is also a construction company, but is currently serving different clients from Siab.
SkyWorld Development Bhd is committed to achieving a return on equity (ROE) of over 20% for its shareholders going forward.
Noteworthy:
May 2023
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