News by theedgemalaysia.com

IGB Bhd (KL:IGBB) said its proposed RM214.97 million acquisition of two leasehold land parcels in Johor Bahru, undertaken via a joint venture with a Johor state-owned company, has received approval from the Ministry of Economy.

The contract was awarded to the company’s unit, Kitacon Sdn Bhd, by Rawang Lakes Sdn Bhd, according to a filing to the stock exchange.

Chief Minister Datuk Seri Ab Rauf Yusoh said the achievement was based on data released by the Ministry of Investment, Trade and Industry (Miti) and the Malaysian Investment Development Authority (Mida), reflecting investors’ confidence in the stability of the state administration and its economic development direction.

Bina Puri Holdings Bhd (KL:BPURI), which has at least six winding-up petitions against its subsidiaries, has landed a RM42.5 million contract to undertake construction works for a project in the Limbang district of Sarawak.

Gamuda Bhd (KL:GAMUDA) fell on Monday as weaker-than-expected results at the largest Malaysian construction firm by revenue failed to assuage investors during broader market selldown.

Construction and property player AME Elite Consortium Bhd (KL:AME) is acquiring two parcels of freehold land measuring a total of 31.82 acres in Senai, Johor, for RM101.18 million, cash, from Nice Frontier Sdn Bhd (NFSB).

IOI Properties Group Bhd (KL:IOIPG) has entered into a strategic collaboration with Affin Bank Bhd (KL:AFFIN) to offer financing solutions aimed at residential and commercial property buyers across IOI Properties’ selected developments in Klang Valley and Johor.

Magma Group Bhd (KL:MAGMA) said on Thursday it plans to acquire the LUMA Hotel in Kota Kinabalu for RM60.9 million in a cash-and-shares deal, to expand its hotel portfolio.

Ireka Corp Bhd (KL:IREKA) is set to be delisted from the Main Market of Bursa Malaysia on March 10.

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.