News by TheEdgeMarkets.com

Crescendo Corp Bhd has reported a net loss of RM3.63 million for the fourth quarter ended Jan 31, 2023 (4QFY2023), compared to a net profit of RM4.55 million a year earlier, due to lower sales of properties.

Knusford Bhd is disposing of a freehold property in Semenyih for RM11.9 million cash, proceeds of which will be used for working capital.

PTT Synergy Group Bhd (formerly Grand Hoover Bhd) is acquiring construction firm Pembinaan Tetap Teguh Sdn Bhd (PTTSB) from its major shareholders and directors for RM152 million, to grow its construction business.

Vizione Holdings Bhd has revoked its agreement to acquire property development company Midlands City Sdn Bhd for RM38 million from its managing director and others.

The Association of Banks in Malaysia (ABM) said its bank members will expand the usage of standardised key provisions for housing loan agreements to individuals regardless of the loan amount by April 1.

Damansara Holdings Bhd's wholly owned subsidiary Damansara Realty (Johor) Sdn Bhd (DRJ) has failed in its bid for leave to seek a judicial review against the Director General of Inland Revenue’s (DGIR) decision in relation to an additional assessment, with costs of RM5,000 to be paid by DRJ to the Inland Revenue Board (IRB).

Shareholders of LEAP Market-listed Lim Seong Hai Capital Bhd (LSH Capital) have paved the way for the construction-related products and service provider to transform into a full-fledged construction and construction-related services and solutions provider.

Eastern & Oriental Bhd (E&O) has proposed to pay RM46.95 million to purchase the remaining 40% equity interest in E&O-PDC Holdings Sdn Bhd from Penang Development Corporation (PDC), to enable E&O to wholly own the Seri Tanjung Pinang reclamation and development concession.

Chin Hin Group Bhd said the disposal gain of RM50,000, after acquiring and disposing of Hextar Industries Bhd’s (HIB) shares, will be utilised as working capital.

Household debt expanded at a faster pace of 5.5% in 2022, driven by housing loans, pointing to sustained demand for house purchases spurred by measures to encourage homeownership.