News by theedgemalaysia.com

As the challenges faced by the construction industry are more complex than ever, Master Builders Association Malaysia (MBAM) president Oliver Wee Hiang Chyn urges industry players to embrace the disruption of technology and advocate for sustainability.

India’s Eros Investments Ltd, along with its Immerso AI-IP division, is set to invest US$1 billion (RM4.33 billion) to establish an artificial intelligence (AI) park and film studio in Malaysia, according to a statement from Malaysia’s Ministry of Digital on Thursday.

KLCCP Stapled Group Bhd (KL: KLCC) said its second quarter net profit rose 5.67% to RM191.06 million from RM180.8 million a year ago, on the back of commendable performances from all businesses, especially the retail and hotel segments.

IOI Properties Group Bhd (KL:IOIPG) has declined the offer to purchase Singapore commercial property Shenton House from its chief executive officer and major shareholder Lee Yeow Seng.

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.

IOI Properties Group Bhd (KL:IOIPG) said on Wednesday its net profit jumped more than five times in the fourth quarter from a year earlier thanks largely to a revaluation gain.

AME Elite Consortium Bhd's (KL:AME) net profit for its first quarter ended June 30, 2024 (1QFY2025) dropped 36.7% to RM14.72 million from RM23.27 million a year earlier, due to lower contributions from property development and construction services, as well as share of loss from joint ventures.

Bina Darulaman Bhd (KL:BDB), Kedah state government’s investment holding company, said it is facing a lawsuit over alleged trespassing of stray golf balls into a private property in the state.

Axis Real Estate Investment Trust (Axis REIT) (KL: AXREIT), which mainly focuses on industrial assets, has proposed to acquire two adjoining pieces of land together with buildings near Port Klang for RM158.64 million.

Minister in the Prime Minister's Department (Federal Territories) Dr Zaliha Mustafa on Wednesday confirmed that the government has temporarily halted new construction approvals in Kuala Lumpur following recent sinkhole incidents in the capital city.