News by Syafiqah Salim

Samchem Holdings Bhd (KL:SAMCHEM), an integrated chemicals and lubricants distributor, is leasing industrial land in Johor Bahru to build a bulk liquid storage terminal to expand capacity.

SGX Mainboard-listed InnoTek Ltd has committed S$5 million (RM15.5 million) to a new manufacturing facility in Melaka, which is slated to begin operations this year as the company looks to strengthen its presence in Southeast Asia.

IOI Properties Group Bhd (KL:IOIPG) extended its rally to new highs on Wednesday as investors kept piling into bets of potential asset spin-offs by the property developer.

Rizal, 55, was previously group CEO of UKM Holdings Sdn Bhd, an investment and commercial arm of Universiti Kebangsaan Malaysia, where he oversaw businesses spanning investment holdings, healthcare, consulting and real estate.

Property group Ideal Capital Bhd (KL:IDEAL) has proposed to undertake a bonus issue of one billion shares on the basis of two new shares for every one share held.

Crescendo’s quarterly revenue increased 16% to RM82.44 million from RM71.06 million due to stronger contributions across all segments; namely property development and construction, manufacturing and trading, property investment, services and others. 

Crest Builder Holdings Bhd (KL:CRESBLD) has secured two construction contracts worth a combined RM513 million, lifting its outstanding order book to a record RM2 billion.

Paramount Corp Bhd (KL:PARAMON) is acquiring a 3.7-acre freehold commercial land parcel along Jalan Ampang from IOI Properties Group Bhd (KL:IOIPG) for RM257.9 million, which it plans to develop into two blocks of high-end serviced apartments with an estimated gross development value (GDV) of RM1.1 billion.

One of the country’s largest fund managers said on Monday in a statement that its board investment committee considered IJM’s intrinsic value versus the RM3.15 offer price and the potential future gain from the Sunway shares to be issued, relative to their issuance price.

Paramount Corp Bhd (KL:PARAMON) is aiming for higher property sales this year and is confident that its margins will withstand cost pressures amid Middle East tensions.