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.

Radium Development Bhd announced yesterday it has acquired 2.56-acre leasehold parcel for RM45 million in Bandar Ampang, Selangor, through its indirect wholly-owned subsidiary, Mayang Sepakat Sdn Bhd.

Tropicana Corp Bhd has soft launched Fraser Heights at Tropicana Uplands, Johor.

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.

Noteworthy:

• Freehold
• Built-up size: 21,000 sq ft
• Land size: 22,281 sq ft
• 9 bedrooms, 9 bathrooms
• Semi-furnished
• Nearby amenities: Universiti Putra Malaysia, UNITEN, Sultan Idris Shah Hospital, Bangi Golf Resort, The Mines Shopping Mall
• Accessibility: North-South Expressway, SKVE, SILK, Sungai Besi Expressway, CKE

When: July 2024

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".