PETALING JAYA (Oct 16): Meda Inc’s recently emerged shareholder Datuk Seth Yap will be resolving outstanding rental charges due to owners of The Arc @ Cyberjaya.  

To date, the company has paid out RM771,372.78 to the owners with the first payment of  RM361,718 followed by a s...

Meda Inc’s new shareholder to settle outstanding rental payments with The Arc @ Cyberjaya owners

KUALA LUMPUR (Oct 12): Housing and Local Government Minister Zuraida Kamaruddin is upbeat about the prospects of the property market next year despite the less-than-rosy statistics from the first half of this year (1H2018) presented by the National Property Information Centre (Napic) yesterday.

KPKT optimistic on property market outlook

KAJANG (Oct 11): National Property Information (Napic) director Badrul Hisham Awang said plans are being made to form a federal-level independent committee to evaluate fair selling prices for homes in Malaysia, a replication of the model used in Melaka currently.

The proposal follows th...

Federal govt committee to evaluate fair housing prices determined

KAJANG (Oct 11): The property market is expected to improve in either 2H2018 or 1H2019, riding on the improvement of household sentiment and business environment, said National Property Information (NAPIC) director Badrul Hisham Awang.

He held a briefing on the Preliminary Property Mark...

Property market expected to improve around 2H108 or 1H2019, says Napic

PETALING JAYA (Oct 6): Over 150 people showed up to watch Amtrol Flower Designing principal Eunice Teo perform live demonstrations of her floral creations that graced the set of Hollywood blockbuster Crazy Rich Asians at the “Crazy Rich Asians is Crazy Flower Power” event here today....

Crazy Rich Asians' florist showcases live work for the first time in Malaysia

PETALING JAYA (Oct 2): The Desa Putra Resident Association (RA) is angry and dismayed over Dewan Bandaraya Kuala Lumpur's (DBKL) Planning Department Director Nurazizi Mokhtar’s claim that there is no need for residents to be given the documents related to the proposed 46-storey high rise project ...

Desa Putra RA upset at DBKL statement over neighbouring high-rise project

KUALA LUMPUR (Oct 2): Datuk Nor Hisham Ahmad Dahlan has been appointed the new Kuala Lumpur mayor. His two-year tenure starts today, taking over the helm of Dewan Bandaraya Kuala Lumpur (DBKL) from his predecessor Tan Sri Mohd Amin Nordin Abd Aziz.

Prior to this appointment, Nor Hisham ...

MPSJ president appointed new DBKL mayor

KUALA LUMPUR (Sept 27): The Federal Territories Ministry will reveal the new management structure of Perbadanan Pembangunan Kampong Baru or Kampung Baru Development Corp by end-October pending the Prime Minister’s approval.

“The names are all there, but it is just the procedure and proc...

New structure for Kampung Baru Development Corp to be revealed soon

PETALING JAYA (Sept 25): Peridot Development Sdn Bhd will officially launch its first semi-dees and bungalow homes by year-end or early next year pending the completion of the show units for the project, said its sales manager Kittipat Songcharoen.

Located in Banting, Klang, the homes m...

Peridot Group poised to launch its first semi-dees and bungalows in Klang

PETALING JAYA (Sept 25): Boutique property developer Temokin Development Sdn Bhd, a subsidiary of Temokin Holdings Sdn Bhd, has launched the first phase of its maiden property project — the Mahligai at Nusa Damai, Pasir Gudang, Johor — today, it said in a press release.

The Mahligai is ...

Temokin Development launches maiden project in Pasir Gudang

Harvey Weinstein's 2020 conviction for sexual assault and rape was overturned by New York's highest court, reopening the landmark case that fuelled the #MeToo movement and highlighting the challenges of holding powerful men accountable.

Harvey Weinstein's rape conviction overturned by top New York court

Honda Motor Co will spend C$15 billion (US$11 billion or RM52.54 billion) to build out its electric vehicle (EV) supply chain in Canada, with billions of dollars of financial aid from government, as the Japanese automaker seeks to tap long-term demand in the region.

Honda to spend US$11 bil on EV strategy in Canada

Hulu Selangor Bersatu action division head has been named as Perikatan Nasional's (PN) candidate for the Kuala Kubu Baharu (KKB) state by-election on May 11.

PN names Hulu Selangor Bersatu acting division head as candidate for KKB by-election

Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

AirAsia X, Capital A, ViTrox, PavREIT, Luxchem, Chin Teck, MKHOP, TAS Offshore, Inta Bina, Heineken, Pantech and Infoline Tec 

TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.

TAS Offshore’s 3Q net profit up nine-fold, shares surge to eight-year high

US economic growth for the first quarter could be revised higher and inflation will ease to more normal levels, Treasury Secretary Janet Yellen told Reuters on Thursday after a clutch of "peculiar" factors held the economy to its weakest showing in nearly two years.

US growth may get revised up, inflation will ebb

EUPE Corp Bhd's net profit surged by 28.9% to RM14.54 million in the fourth quarter ended Feb 29, 2024 (4QFY2024) from RM11.28 million a year ago, underpinned by a higher contribution from the property development division.

EUPE Corp net profit surges 28.9% in 4Q, driven by strong property sales

CGS International has cut its earnings estimate for Inari Amertron Bhd as recent data flagged weakened smartphone demand, according to its research note on Thursday.

CGS International cuts Inari Amertron earnings forecast on weak smartphone demand

AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation business, has announced the mechanics of its plan via a bourse filing on Thursday.

AirAsia X to buy Capital A's aviation business for RM6.8b via share and debt deal 

In today’s edition of Evening 5: 00:00 EPF unveils the details of flexible Account 3 02:07 AAX to buy Capital A’s airline business for RM6.8 bil 03:47 DNB adds five new members to its board 04:58 PM denies claims about a Forest City casino 05:51 Pantech mulls listing two subsidiaries

EVENING 5: EPF unveils the details of flexible Account 3

AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation business, has announced the mechanics of its plan via a bourse filing on Thursday.

Chin Teck Plantations Bhd’s net profit surged sevenfold for the financial quarter ended Feb 29, 2024 (2QFY2024) thanks to higher palm oil production as well as lower operating and administrative expenses.

Chin Teck’s 2Q net profit up sevenfold

MKH Oil Palm (East Kalimantan) Bhd (MKHOP), the plantation arm of property developer MKH Bhd, reported RM16.02 million net profit on the back of RM86.05 million revenue for the second quarter ended March 31, 2024 (2QFY2024), ahead of its listing on Bursa Malaysia’s Main Market.

MKH Oil Palm posts RM16 mil net profit in 2Q, q-o-q up 44% ahead of Main Market listing

Shares of CapitaLand Malaysia Trust (CLMT) surged on Thursday to its highest in nearly four years while analysts remained upbeat following better-than-expected first-quarter (1Q) results.

CapitaLand Malaysia Trust surges to near four-year high after strong 1Q

Global semiconductor firm Nasdaq-listed TTM Technologies Inc has invested US$200 million (about RM958 million) for its first manufacturing plant in Malaysia.

Nasdaq-listed TTM Technologies invests RM958 mil for manufacturing plant in Penang

The Council of Palm Oil Producing Countries (CPOPC) has called on the European Union to delay the implementation of deforestation rules by at least a year for small businesses, its secretary general said on Thursday.

Palm oil producers urges EU to delay deforestation rules for small businesses

Pantech Group Holdings Bhd is considering to list two wholly-owned subsidiaries — Pantech Stainless &amp; Alloy Industries Sdn Bhd and Pantech Steel Industries Sdn Bhd — on the Main Market of Bursa Malaysia via a special purpose vehicle (SPV).

Plans for this are still at the preliminary stage and extensive preparatory work needs to be carried out, Pantech said in a bourse filing on Thursday.

Pantech mulls listing two subsidiaries on Main Market via SPV

Practice Note 17 (PN17) company Khee San Bhd will increase the allotment underwritten in its proposed rights issue after Ng Meng Kee ceased to be a substantial shareholder and requested to discharge his undertaking.&nbsp;

Khee San revises underwriting of rights issue after substantial shareholder ceases to be, withdraws undertaking

ViTrox Corp Bhd saw its net profit nearly halved for the financial quarter ended March 31, 2024 (1QFY2024), primarily due to unfavourable product mix and higher research and development (R&amp;D) expenditures to support the introduction of new products.

ViTrox 1Q’s net profit nearly halved, extending declining profits to five quarters

Construction company Inta Bina Group Bhd has secured a contract worth RM224.8 million to develop a 38-storey business serviced apartment in Subang Jaya.

Inta Bina bags RM224.8m job to build business serviced apartments in Subang Jaya

The newly constituted board of Digital Nasional Bhd (DNB) will convene a meeting soon to review due diligence findings and address the remaining conditions precedent in the share subscription agreements (SSAs), said Digital Minister Gobind Singh Deo.

DNB's new board to review due diligence findings, finalise share subscription agreements soon — Gobind

While March’s headline inflation of 1.8% year-on-year (y-o-y) came in slightly lower than consensus expectations of 2%, economists are maintaining their projection that Malaysia's headline inflation will progressively accelerate towards the end of the year on account of the government's fuel subsidy rationalisation plan, utility tariff hikes, and its recent adjustments of the service tax.

Inflation to pick up soon on fiscal consolidation measures after weaker-than-expected March print — economists

Pavilion Real Estate Investment Trust (PavREIT) reported that its first quarter net property income (NPI) jumped 33.2% year-on-year, thanks largely to contribution from its newly acquired mall, Pavilion Bukit Jalil. The increase was also attributed to higher occupancy rates and higher revenue rent from its other retail malls.

PavREIT’s 1Q NPI jumps 33%, pays 2.48 sen distribution per unit

US economic growth slowed more than expected in the first quarter, but an acceleration in inflation suggested that the Federal Reserve would not cut interest rates before September.

US economic growth slows more than expected in first quarter

Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

KUALA LUMPUR (April 25): The Companies Commission of Malaysia (SSM) expects more companies to utilise the new corporate rehabilitation framework introduced by the Companies (Amendment) Act 2024, which came into force on April 1.

SSM expects more companies to utilise new corporate rehabilitation framework

The Malaysian Anti-Corruption Commission (MACC) has served a senior police officer arrested on suspicion of protecting an illegal syndicate in the country's capital a notice to declare his assets before April 28.

Senior police officer arrested for alleged corruption given until April 28 to declare assets to MACC

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EVENING 5: Five things you need to know today

KUALA LUMPUR (April 25): HeiTech Padu Bhd targets&nbsp;stronger earnings growth after returning to profitability for the financial year ending Dec&nbsp;31, 2023 (FY2023), amid greater competition.

HeiTech Padu targets stronger earnings growth after returning to black in 2023

The Malaysian Anti-Corruption Commission (MACC) will make several more arrests in connection with the case involving a menteri besar's son to assist in the probe into the RM600,000 falsified claims case.

MACC chief commissioner Tan Sri Azam Baki said the case is now common knowledge and the suspects involved were detained on Wednesday while investigations are still ongoing.

Natalie Khoo

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