Magma said it is consulting its solicitors and has sent a letter to the plaintiff’s solicitor as part of efforts to settle the matter amicably. KUALA LUMPUR (Aug 20): Magma Group Bhd (KL:MAGMA) said Impiana Selo Tioman Resorts Sdn Bhd, a 75%-owned unit of the hospitality group, is being sued by two individuals over an…
Read MoreKUALA LUMPUR (Aug 21): The Ministry of Housing and Local Government (KPKT) has submitted 33 proposals worth almost RM1 billion to the Ministry of Finance for the 2025 Budget Initiative, said Minister Nga Kor Ming. (pictured) He said the high-impact proposal was submitted when he was leading the ministry’s delegation to the Ministry of Finance….
Read MoreKUALA LUMPUR (Aug 21): Builder Tuju Setia Bhd (KL:TJSETIA) has bagged a RM247.95 million contract from Sime Darby Property Bhd (KL:SIMEPROP) to construct two blocks of service apartments with a gross development value (GDV) of RM597.2 million in USJ 7, Subang Jaya, Selangor. Spanning 4.32 acres of land, Hype Residences features a 39-storey building comprising…
Read MoreThe Economist Intelligence Unit (EIU) in a report on Wednesday highlighted the importance of reliable power for DCs, citing power issues and ‘struggling grids’ in other parts of the world. KUALA LUMPUR (Aug 21): With data centres (DCs) straining national power grids elsewhere, prompting Big Tech to explore alternative power sources to reduce emissions, Malaysia…
Read MoreKUALA LUMPUR (Aug 20): Property developer Mah Sing Group Bhd (KL:MAHSING) has called for a revival of the Home Ownership Campaign (HOC) to help promote homeownership. According to a media statement on Tuesday as part of a wishlist for Budget 2025, Mah Sing founder and group managing director Tan Sri Leong Hoy Kum said the…
Read MoreKUALA LUMPUR (Aug 20): Lagenda Properties Bhd’s second quarter net profit increased 45.8% to RM48.4 million from RM33.2 million a year earlier, thanks to higher contributions from its property development and construction divisions. Earnings per share for the quarter ended June 30, 2024 (2QFY2024) rose to 5.78 sen from 3.96 sen, according to the property…
Read MorePlatinum Victory honoured Aaron Chia and Soh Wooi Yik with a RM100,000 incentive, in recognising their remarkable contribution and aiming to inspire future generations of Malaysian athletes. KUALA LUMPUR (Aug 20): Platinum Victory and Southern Score Builders Bhd celebrated the Paris 2024 Olympics bronze medal achievement of Malaysia’s top men’s badminton doubles pair Aaron Chia…
Read MoreKUALA LUMPUR (Aug 20): A formal agreement or contract (‘bai’ah’) between the homeowner, as the client, and the appointed contractor is crucial before starting any project, the Construction Industry Development Board (CIDB) says. “Even a single piece of paper is enough to indicate that there is an agreement between Party A and Party B. That’s how…
Read MoreKUALA LUMPUR (Aug 20): South Malaysia Industries Bhd (KL:SMI) on Tuesday received a takeover offer worth more than RM47 million from a group of major shareholders. The shareholders — Francis Leong and two subsidiaries of Techbase Industries Bhd (KL:TECHBASE) — are offering 45 sen per share to acquire the rest of the shares not already owned…
Read MoreKUALA LUMPUR (Aug 20): Batu Kawan Bhd (KL:BKAWAN) and its 47.9%-owned Kuala Lumpur Kepong Bhd (KL:KLK) posted higher earnings for the third quarter ended June 30, 2024 (3QFY2024), driven by stronger contribution from the plantation segment. The increase was attributed to higher selling prices and sales volumes of crude palm oil and palm kernel, lower…
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