News by theedgemalaysia.com

Landmarks Bhd has terminated its plan to sell its entire stake in two companies that own hospitality assets in Indonesia to Southern Archipelago Ltd or SAL (formerly known as Blumont Group Ltd), citing the prolonged completion timelines and volatile market conditions.

Harn Len Corporation Bhd has proposed to acquire an aquaculture outfit which owns 30 ponds on a 300-acre piece of land in Pekan, Pahang from its substantial shareholder, Mohamed Nizam Jakel, through a RM42.5 million share deal.

Kuchai Development Bhd is injecting RM275 million worth of assets and liabilities into Sungei Bagan Rubber Co (M) Bhd in a share deal, as part of efforts to consolidate the assets of two sister companies linked to Kluang Rubber Company (M) Bhd (KRCB).

Bintai Kinden Corp Bhd has secured an agreement to settle RM3 million of debt with MBSB Bank Bhd, which will see the bank withdraw a legal suit arising from Bintai Kinden’s default in March this year.

The government is reviewing the surcharge and subscription period for the Green Electricity Tariff (GET) mechanism, as it looks into extending the green electricity subscription to 2024.

Datuk Saiful Nizam Mohd Yusoff, who is the president of Jiankun International Bhd, has ceased to be a substantial shareholder of the loss-making property development and construction group.

Malaysia Airports Holdings Bhd (MAHB) is said to be mulling on hiring a IJM Corp Bhd-led consortium to carry on with the aerotrain replacement project that was halted in August, according to sources familiar with the matter.

Lim Seong Hai Capital Bhd (LSH Capital), which is seeking a transfer from the LEAP Market to the ACE Market of Bursa Malaysia, has obtained undertaking letters from its minority shareholders to waive their entitlement to an exit offer.

Crescendo Corp Bhd saw its net profit for the third quarter ended Oct 31, 2023 (3QFY2024) rose by 270% to RM17.97 million, compared with RM4.86 million a year earlier, underpinned by higher properties sales compounded with high-margin industrial land sale.

Ekovest Bhd is teaming up with Zhejiang Communications Investment Group Co Ltd (CICO), the largest state-owned enterprise established by the Zhejiang provincial government in China, for the joint exploration and development of infrastructure and other projects in Malaysia.