KUALA LUMPUR (Aug 8): Real estate developer I-Bhd (KL:IBHD) said on Thursday its net profit tripled in the second quarter from a year earlier, thanks to a turnaround of its leisure business and higher property investment income. Net profit for the quarter ended June 30, 2024 (2QFY2024) was RM5.45 million, compared with RM1.82 million for…
Read MoreKUALA LUMPUR (Aug 6): I-Bhd (KL:IBHD) on Tuesday broke ground for SkyCity in I-City, Shah Alam. It is a 60-metre tower featuring a 600-metre glass slide that is poised to be a new tourist attraction. In a press statement issued on Tuesday, the property developer said that with the addition of SkyWalk in i-City, the…
Read MoreKUALA LUMPUR (Aug 7): Malaysia’s target to achieve revenue of RM3.6 billion by 2025 in the data centre industry is on track, going by the positive signals from industry players. Deputy Communications Minister Teo Nie Ching said this after a slew of investments involving the development of data centres in the country, coupled with expanding…
Read MoreKUALA LUMPUR (Aug 7): In a decision that is expected to affect the land industry in the city and the government, the High Court on Tuesday has allowed the application by the liquidator of Semantan Estate (1952) Sdn Bhd for the 263.27-acre land in Mukim Batu — known as the “Duta enclave” that currently houses…
Read MoreKUALA LUMPUR (Aug 6): The special high-level committee on Malaysian Civil Servants’ Housing Projects (PPAM) has agreed that an outcome study needs to be conducted to evaluate the effectiveness of the PPAM implementation. Chief Secretary to the Government Tan Sri Mohd Zuki Ali (pictured) hoped the study would focus on elements such as affordable pricing,…
Read MoreKUALA LUMPUR (Aug 6): All construction companies are reminded not to be ‘selective’ and to prioritise local skilled labour when hiring workers in the sector, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi. Amad Zahid, also minister of rural and regional development, said the government will incur long-term losses if the construction sector…
Read MoreKUALA LUMPUR (Aug 6): Infrastructure and engineering solutions provider Jati Tinggi Group Bhd (KL:JTGROUP) secured an engineering, procurement, construction, and commissioning (EPCC) sub-contract worth RM33.8 million from Gamuda’s wholly owned subsidiary, Gamuda Engineering Sdn Bhd (GESB). In a filing, Jati Tinggi said the sub-contract was awarded to its unit Jati Tinggi Holding Sdn Bhd (JTHSB),…
Read MoreKUALA LUMPUR (Aug 6): Bangsar Hill Park Development Sdn Bhd topped out the first phase of its Bangsar Hill Park residences last week. Named Verdura, the condominium has achieved a 99% take-up rate. “Launched during the pandemic in 2020, Verdura has achieved an impressive 99% take-up rate. The high demand reflects the relevance of our…
Read MoreKUALA LUMPUR (Aug 6): Property developer Talam Transform Bhd (KL:TALAMT) said it plans to dispose of a 27.72-acre piece of land in Sepang to a unit of IJM Corp Bhd (KL:IJM) as partial debt repayment. In a bourse filing, Talam Transform said its wholly owned subsidiary Talam Leisure Development Sdn Bhd (TLDSB) has agreed to…
Read MoreKUALA LUMPUR (Aug 6): The High Court of Kuala Lumpur has allowed RHB Bank Bhd’s (KL:RHBBANK) application for a summary judgement against Ireka Corp Bhd (KL:IREKA) for the bank’s RM6.53 million claim over an alleged default in a revolving credit facility. According to the group’s bourse filing, the summary judgement entails a court order for…
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