BY STUART MICHAELAir Selangor and SPAN officers at the construction site where water was being illegally stolen in Taman Garing Indah, Rawang.A CONSTRUCTION site in Taman Garing Indah, Rawang, had its water supply cut during a raid by Pengurusan Air Selangor Sdn Bhd.Air Selangor had uncovered an...

KUALA LUMPUR: Sime Darby Bhd's unit has completed the sale of its entire stake in Malaysia Land Development Company Bhd (MLDC) to Datuk Seri Tong Seech Wi for RM1 cash consideration.It said on Wednesday  Sime Darby Property Bhd had sold the stake, comprising of 5.069 million shares, under the...

FRANKFURT: Thyssenkrupp and Indian peer Tata Steel on Wednesday struck a preliminary agreement to combine their European steel operations in a 50:50 joint venture, creating the continent’s No. 2 steelmaker after ArcelorMittal.The new company, to be named Thyssenkrupp Tata Steel, would be...

SINGAPORE: A plan to acquire Singapore’s United Engineers Ltd by Yanlord Land Group and Perennial Real Estate Holdings that valued the century-old property group and a stake in a subsidiary at US$1.4 billion has failed on low shareholder acceptance.The consortium agreed in July to buy a one-third...

KUALA LUMPUR: The Real Estate and Housing Developers' Association (Rehda) is optimistic of Malaysia's property sector outlook in the first half of 2018 (H1 2018) in tandem with the improvements in the country's economic conditions.Its president, Datuk Seri FD Iskandar, said the optimism was also...

MALAYSIAN RESOURCES CORPBHDBY KENANGA RESEARCHOutperform (maintained)Target price: RM1.14According to the research firm, the issue price of 79 sen represents a 20.2% discount to its theoretical ex-all price of 99 sen.“Based on the issue price of 79 sen, MRCB is looking to raise RM2.25bil from the...

Sime Darby said the disposal consideration was based on the financial position of MLDC, Genting View Resort Development Sdn Bhd (GVR), a 60%-owned subsidiary of MLDC, and Sime Darby GVR Management Sdn Bhd, a unit of MLDCKUALA LUMPUR: Sime Darby Bhd ’s unit has completed the sale of its entire...

BY DAVID TANLeft -Right: Hunza executive directors Lee Kooi Foon (first left) and MD Datuk Khor Siang Gin (third left), founder and executive advisor Datuk Seri Khor Teng Tong (fourth left), executive directors Khor Tze Ming (fifth left) and Lily Tan (sixth left) showing the book yesterday. The...

“The latest job will not increase WCT’s year-to-date job wins of RM1.05bil and its outstanding construction order book of RM5.36bil,” AmInvestment Bank said in a report yesterday.PETALING JAYA: WCT Holdings Bhd ’s newly secured RM199.5mil contract from Mass Rapid Transit Corp Sdn Bhd (MRT...

Iskandar: While challenging market conditions have affected new launches, the reduction can also be primarily attributed to financing issues such as high loan rejections and lower-than-expected margin of financing from the banks.PETALING JAYA: Malaysia’s property developers were more cautious in...