News by syafiqah Salim

Gadang Holdings Bhd (KL:GADANG) is disposing of a leasehold land in Damansara Perdana for RM65 million to partially finance its existing construction projects and repay borrowings.

Construction and property development company MGB Bhd (KL:MGB) said it will undertake mixed development and residential projects on 26 acres of land in Taman Bukit Serdang, Seri Kembangan with a combined gross development value (GDV) of RM861.35 million.

The total sum for the proposed disposal of Kuchai Development Bhd’s (KL:KUCHAI) assets and liabilities to Sungei Bagan Rubber Company (M) Bhd (KL:SBAGAN) has been revised lower following the exclusion of an agricultural land parcel in Semenyih, Selangor.

The proceeds from these sukuk wakalah programmes will be used for working capital, capital expenditure, investments, refinancing, and general corporate purposes within the group and its joint ventures. 

Gamuda Bhd (KL:GAMUDA) said on Friday it has secured a A$243 million (RM702 million) construction contract to deliver the Boulder Creek Wind Farm in Queensland, Australia.

Through this framework, TNB can utilise various financing instruments for its SFTs, which encompass sustainable and responsible investment (SRI), green, social and sustainability (GSS) and transition sukuk, GSS and transition bonds, as well as transition loans.

Malaysian Resources Corp Bhd’s (KL:MRCB) net profit for the second quarter surged more than fourfold to RM51.18 million from RM10.87 million a year earlier, as contribution from its construction segment doubled.

Ekovest Bhd (KL:EKOVEST) narrowed its net loss to RM64.87 million for its fourth quarter ended June 30, 2024 (4QFY2024) from RM95.66 million a year earlier, helped by a turnaround in the performance of its associate.

Sentoria Group Bhd (KL:SNTORIA) has confirmed on Wednesday the departure of its chief executive officer Datuk Loh Yuen Tuck from the company via a bourse filing. It also maintains that it does not accept Loh's constructive dismissal claim, saying it was Loh who repudiated his own service contract.

Planning permission applications for the construction of buildings in Kuala Lumpur will no longer be considered without a geotechnical study prepared by certified engineers, under a new directive issued by Kuala Lumpur City Hall (DBKL).