News by Sulhi Khalid

Ekovest Bhd has entered into binding heads of merger agreement (HOA) with its major shareholders, Tan Sri Lim Kang Hoo and another sister company, Knusford Bhd, as part of a proposed consolidation exercise to streamline the tycoon’s shareholdings in a group of companies.

Axis Real Estate Investment Trust's (Axis REIT) net property income (NPI) for the third quarter ended Sept 30, 2023 (3QFY2023) increased marginally by 0.67% to RM61.9 million compared with RM61.49 million, on the back of higher property income.

EcoFirst Consolidated Bhd has clarified that the group still has a net gain despite disposing of eight out of 15 retail units at lower than market price in a recent related party transaction.

Wasco Bhd's (formerly known as Wah Seong Corp Bhd) wholly owned subsidiary, W S Engineering & Fabrication Pte Ltd has secured a US$33.89 million (RM161.86 million) contract for the supply of pre-fabricated-buildings for a project in Africa.

Hua Yang Bhd’s net profit rose 58.75% to RM535,000 for the second quarter ended Sept 30, 2023 (2QFY2023) from RM337,000 a year earlier, amid a surge in revenue.

The cancer centre is slated to operate early next year.

HIL Industries Bhd has proposed to acquire a company that owns land near the Shah Alam-Klang border that has been earmarked for residential development, in a related party transaction.

Wasco Bhd (formerly known as Wah Seong Corporation Bhd)’s indirect wholly-owned subsidiary, Wasco AgroTech Sdn Bhd, has disposed of a piece of freehold land in Klang, Selangor for RM40 million.

Tropicana Corp Bhd is seeking to strike out the claim filed by RHB Trustees Bhd, Sunway REIT Management Sdn Bhd and Sunway Education Group Sdn Bhd over its alleged breach of agreement and double-dealing over the sale of shares and a stake in St Joseph International School.

APB Resources Bhd has proposed to acquire a 16-storey Serba Dinamik building in Shah Alam, Selangor for RM38 million, subject to the approval from the High Court.