The new parking concession, dubbed the Smart Integrated Parking (SIP) scheme has raised legal, commercial and operational concerns due to the limited information disclosed so far

Income will likely come from land disposals and property development.

While SunCon maintains this is an isolated incident with no senior management involvement, reputational risks could temporarily advantage rivals like Gamuda Bhd (KL:GAMUDA) and IJM Corp Bhd (KL:IJM), according to CGS International.

“For the first half of this year we had a pretty good year."

Idros, 53, brings with him nearly three decades of experience in strategic investment and real estate, primarily at PNB.

The notice of motion, filed via the company’s solicitors Messrs Chooi & Co, is understood to have been served on the Attorney General's Chambers on Monday.

Ng said the central bank's recent 25-basis-point rate cut to the OPR in July was a preemptive measure.

“This isolated investigation does not concern the way SunCon secures contracts from its clients,” the company said in an exchange filing.

He said that with transparent creditworthiness, it can help reduce consumers’ financial pressure as well as reduce borrowing money from unlicensed money lenders or syndicates.

Mah Sing Group Bhd (KL:MAHSING) has topped out its RM790 million M Nova, its third residential development in Kepong.