News by syafiqah Salim

SMI said the disqualified votes were from shareholders who had indicated abstention in their proxy forms or who refrained from voting due to a conflict of interest.

Magma Group Bhd (KL:MAGMA) has proposed a private placement of up to 168.11 million new shares, representing up to 10% of its issued share capital, to raise up to RM50.1 million to fund property development works and investments in its hotel division.

The Federal Land Development Authority (Felda) and its wholly owned unit, FGV Holdings Bhd, said they take a serious view of the warning notices issued by the Terengganu government over alleged unlawful occupation of plantation land in the state.

SD Guthrie Bhd (KL:SDG), the world’s largest palm oil producer by acreage, is increasing its stake in a planned integrated industrial park in Johor, becoming an equal partner with Eco World Development Group Bhd (KL:ECOWLD) after EcoWorld reduces its share.

Sunway Bhd (KL:SUNWAY) said its unit Sunway Cochrane Sdn Bhd has proposed to establish a sukuk wakalah programme of up to RM2 billion to support its working capital and expansion plans.

Sunway Real Estate Investment Trust (KL:SUNREIT) has appointed Derek Teh Wan Wei as its new chief executive officer (CEO), effective Monday.

Tuju Setia Bhd (KL:TJSETIA) on Monday secured a  construction contract from Sunway Bhd (KL:SUNWAY) worth RM420 million, nearly six times the company’s market capitalisation of RM62.73 million.

Kerjaya Prospek Group Bhd (KL:KERJAYA) said it is in discussions with the property arm of Retirement Fund Inc (KWAP) for a proposed industrial park development in Batu Kawan, Penang.

Property developer Eastern & Oriental Bhd (KL:E&O) said on Friday it would consider divesting its final UK asset, the 54-unit Lincoln Suites at Princes House near Covent Garden, at the right price.

Kuala Lumpur Kepong Bhd (KL:KLK) saw its fourth-quarter net profit soar 14-fold, boosted by stronger plantation and property results, despite notching RM123.7 million in non-cash losses from its UK chemicals investment, Synthomer plc, including a RM60 million impairment.