KUALA LUMPUR (Sept 29): UEM Sunrise Bhd has issued Islamic medium-term notes (IMTNs) worth RM350 million in nominal value. According to a filing on Friday, the property developer issued the new IMTNs in two tranches: a RM200 million first tranche with a five-year tenure and a RM150 million second tranche with a seven-year tenure. The…
Read MoreKUALA LUMPUR (Sept 29): Sunway Bhd, and in turn its founder and executive chairman Tan Sri Jeffrey Cheah Fook Ling, have ceased to be a substantial shareholder of construction giant IJM Corp Bhd following a 0.08% stake disposal. In a bourse filing on Friday, Sunway said its wholly-owned subsidiary Fortuna Gembira Enterpris Sdn Bhd ceased…
Read MoreKUALA LUMPUR (Sept 29): Eastern & Oriental Bhd’s (E&O) executive chairman Datuk Tee Eng Ho and his brother, executive director Tee Eng Seng, raised their stake in the property developer to 50.39% via the conversion of irredeemable convertible unsecured loan stocks (ICULS). According to a bourse filing on Friday, Eng Seng and Eng Ho’s vehicle…
Read MoreKUALA LUMPUR (Oct 2): Malaysia Building Society Bhd (MBSB) has completed its acquisition of Malaysian Industrial Development Finance Bhd (MIDF) from Permodalan Nasional Bhd (PNB) for RM1.01 billion worth of new share issuance at 96.52 sen per share. MBSB told Bursa Malaysia on Monday that 1.05 billion new shares were allotted to PNB, resulting in…
Read MoreKUALA LUMPUR (Oct 2): Hektar Real Estate Investment Trust (Hektar REIT) will install 13 electric vehicle (EV) charging bays in six shopping malls under its portfolio starting Jan 1, 2024. The installation initiative stems from a collaboration between Hektar Asset Management Sdn Bhd, manager of Hektar REIT, and GMA Resources. Hektar Asset Management CEO and…
Read MoreKUALA LUMPUR (Oct 2): MRCB Land Sdn Bhd’s latest high-rise residential development, named Tujuh Residences in the ongoing 94-acre Kwasa Damansara City Centre (KDCC) project, is now open for preview, according to a press statement on last Friday (Sept 29). Tujuh Residences will be a 29-storey apartment tower, comprising 573 units. These homes offer one-…
Read MoreKUALA LUMPUR (Sept 29): Prasarana president and group chief executive officer Mohd Azharuddin Mat Sah is of the view that Kuala Lumpur’s transportation ecosystem must be optimised to create a more resilient public transport system. Presenting the paper “Creating Resilient Public Transport System for Kuala Lumpur: The Strategies and Implementations” at the at the 14th…
Read MoreKUALA LUMPUR (Sept 29): TA Securities Research has maintained its “buy” rating on Gamuda Bhd at RM4.31 with a higher target price of RM5.19 (from RM5.03) based on sum of parts valuation. The research house also increased its earnings forecasts for Gamuda by 22.4% for the financial year 2024 (FY2024) and by 15.6% for FY2025….
Read MoreKUALA LUMPUR (Sept 29): UEM Sunrise Bhd, through its joint-venture subsidiary Mega Legacy (M) Sdn Bhd (MLMSB), and Melati Ehsan Group signed a Memorandum of Understanding (MOU) with Universiti Malaya’s (UM) Faculty of Science on Tuesday to assess the water quality and heavy metal content of the Kepong Metropolitan Park’s 140.85-acre lake. The park is…
Read MoreKUALA LUMPUR (Sept 29): The Works Ministry (KKR) has requested an increase in allocations in Budget 2024, to focus on the maintenance and periodic works of highways and roads nationwide. Its Minister Datuk Seri Alexander Nanta Linggi said this is important to ensure the quality of highways and roads nationwide is at its best level…
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