News by theedgemalaysia.com

The default by the group's indirect wholly-owned units, Mines Waterfront Business Park Sdn Bhd and Mines International Exhibition Centre Sdn Bhd, were in respect of a charge created as security for the financing facilities.

Sunway said that the proposed acquisition and proposed subscription will be satisfied by cash from internally generated funds. 

RHB Research maintained its "overweight" rating of the construction sector, after the outcome of the state polls on Saturday (Aug 12) maintained the status quo for the state governments, and removed the political overhang over the sector.

Analysts foresee an improvement in Sentral REIT's financial performance, underpinned by the office-retail property trust's proposed acquisition of Menara CelcomDigi.

Kenanga Research has maintained its "neutral" stance on the property sector, naming Eco World Development Group Bhd (EcoWorld) and IOI Properties Group Bhd as its top picks, which have strong cash flows that could anchor good dividends in the current challenging operating environment.

CGS-CIMB maintained its "buy" call on Sime Darby Property Bhd and raised its target price (TP) by 19% to 87 sen from 73 sen on the group’s diversified product mix, high unbilled sales and strong balance sheet.

Property developer Axteria Group Bhd has proposed a private placement of up to 10% of its total number of issued share capital to raise RM11.3 million.

Ecobuilt Holdings Bhd said its wholly-owned unit Eko Bina Sdn Bhd has issued a notice of adjudication to Golden Wave Sdn Bhd over a payment dispute relating to a serviced apartment and retail units project in Kota Kinabalu.

Practice Note 17 (PN17) company Top Builders Capital Bhd said on Thursday (Aug 10) that its external auditor, Kreston John & Gan, has resigned on a volunary basis.

Berjaya Land Bhd (BLand) has appointed Abang Abdillah Izzarim Abang Abdul Rahman Zohari as an independent and non-executive director, effective Thursday (Aug 10).