“The redevelopment of these sites could generate an estimated RM322.5 billion in GDP,” said Nga. — IZZRAFIQ ALIAS/The Star A necessity for continued urban growth, says Nga Urban redevelopment is essential for transforming cities, revitalising ageing infrastructure and ensuring sustainable growth. As cities expand and evolve, many urban areas face the challenges of outdated buildings,…
Read MoreKUALA LUMPUR (May 30): Vizione Holdings Bhd (KL:VIZIONE), which is valued at RM73.72 million, has secured a RM750 million contract from a company partially owned by its directors for construction works on a mixed development in Gombak, Selangor. The integrated construction engineering outfit will undertake the main contract works for Phase 2 and 3 of…
Read MoreKUALA LUMPUR (May 31): MGB Bhd (KL:MGB), a subsidiary of LBS Bina Group Bhd (KL:LBS), marked the completion of the building structure of Idaman Melur in Cybersouth, Selangor, with a roof-topping ceremony on May 24. The project was completed a month ahead of schedule. In a press release on Thursday, MGB mentioned that the early…
Read MoreKUALA LUMPUR (May 31): Phillip Capital has maintained its ‘buy’ rating for AME Elite Consortium Bhd (KL:AME) at RM1.71, with a higher target price of RM2.15 (from RM2), and said AME’s results were within both the house and consensus estimates for the financial year ended March 31, 2024 (FY2024). In a note on Friday, the…
Read MoreTaking a photo with Housing and Local Government Minister Nga Kor Ming (seventh from left) and Star Media Group chief executive officer Chan Seng Fatt (sixth from left), chief business officer Lydia Wang (fifth from right) and managing editor Brian Martin. The judges (from left) are Tan, Norshafina, Adzman, Noraida, Subramaniam, Serina, Abu Zarim and…
Read MoreKUALA LUMPUR (May 30): The government said it will prioritise addressing the issue of unlicensed abandoned private housing projects, including by collaborating with stakeholders. According to Deputy Minister of Housing and Local Government Datuk Aiman Athirah Sabu (pictured speaking), there are 175 unlicensed abandoned private housing projects remaining in Peninsular Malaysia. Aiman said the ministry…
Read MoreKUALA LUMPUR (May 31): Hong Leong Investment Bank (HLIB) Research has maintained its ‘buy’ rating for OSK Holdings Bhd (KL:OSK) at RM1.66, with a higher target price of RM2.21 (from RM2.16), and said OSK’s first-quarter core profit after tax and minority interest of RM122.8 million (+26.7% quarter-on-quarter; +6.4% year-on-year) was within house expectations, making up…
Read MoreKUALA LUMPUR (May 31): Shares in Malaysian Resources Corp Bhd (KL:MRCB) fell on Friday, and nearly wiped out their gains this month, as the latest weaker-than-expected quarterly results prompted caution among investors and analysts. MRCB declined as much as 5% or 3.5 sen to 66 sen, its lowest since May 3. At that price, the…
Read MoreKUALA LUMPUR (May 30): OSK Holdings Bhd’s (KL:OSK) net profit for the first quarter ended March 31, 2024 (1QFY2024) rose 10% to RM122.93 million from RM115.09 million, on the back of a 10% rise in revenue to RM367.94 million, versus RM333.20 million. In a bourse filing on Thursday, OSK said the property, financial services, industries…
Read MoreKUALA LUMPUR (May 30): Real estate is becoming a new global currency amidst a predicted post-pandemic stagflation, said Juwai IQI chief economist Shan Saeed. “Production cuts are happening, we have geopolitical risks, supply constraints, and China is coming back into the market. Overall, investors are going back to basics with tangible assets like real estate,…
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