News by theedgemalaysia.com

The construction sector in Malaysia is set to achieve its strongest year since 2016, driven by a surge in project roll-outs from both the public and private sectors, analysts from RHB said.

Malton Bhd (KL:MALTON) said it plans to raise up to RM19.47 million via a private placement of shares to third-party investors to fund its ongoing property development projects.

As at end-September, the group’s cash and bank balances totalled RM747.43 million, while borrowings stood at RM1.60 billion, according to its latest financial statements.

The contract was awarded by Exsim Bukit Jalil City Sdn Bhd to Binastra’s wholly owned subsidiary Binastra Builders Sdn Bhd.

RHB Research said it expects SimeProp's two data-centre projects, both for Pearl Computing Malaysia, to bring RM380 million in rental income per year, translating to RM170 million to RM180 million in annual net profit. 

He has, however, denied the charges and claimed trial.

The consortium came out to explain the variation of its proposal compared to certain requirements underlined by the state in its request for proposal were "best explained and clarified in a face-to-face meeting".

Cheah sold 50 million shares, reducing his direct stake in Sunway to 9.98% from 10.97% previously.

Elmina Logistics Hub is expected to be completed in the first half of 2025.

The project comprises 606 units of condominiums on Persiaran Semarak Api in Cyber 11.