Latest news with #CIMediniSdnBhd
The Star
3 days ago
- Business
- The Star
Trading ideas: MGB, YTL Power, Classita, Infomina, NationGate, Thong Guan, Carlsberg, Sunway REIT, UMS, MSC, Tex Cycle, Rhone Ma
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. MGB Bhd secured a RM185.99m contract from CI Medini Sdn Bhd for the development of two serviced apartment towers in Medini, Iskandar Puteri, Johor Baru. YTL Power International Bhd launched 'Ilmu', Malaysia's first fully homegrown large language model, via its unit YTL AI Labs Sdn Bhd. Classita Holdings Bhd said its subsidiary Caely (M) Sdn Bhd has sued Koperasi Peserta-Peserta Felcra Malaysia Bhd to recover RM9.47m in unpaid sums for a completed RM69.04m housing project in Perak. Infomina Geolytik Sdn Bhd, a joint venture between Infomina Bhd and Geolytik Tech Sdn Bhd, launched ValuationXchange, a PEPS Ventures-endorsed platform to streamline property valuations, improve compliance, and enhance loan processing efficiency. Nationgate Holdings Bhd saw the Employees Provident Fund reduce its shareholding below the 5% threshold after disposing of 3.75m shares on 8 Aug 2025, leaving it with a 4.909% stake. Thong Guan Industries Bhd announced that Raja Muda of Kedah Tengku Sarafudin Badlishah Sultan Sallehuddin has resigned as independent and non-executive chairman effective 25 Aug 2025, after completing his nine-year tenure. Carlsberg Brewery Malaysia Bhd posted a 3.2% YoY increase in 2QFY25 net profit to RM81.9m, aided by lower tax expenses despite a 3.4% YoY decline in revenue to RM490.2m. Sunway Real Estate Investment Trust reported a 10.9% YoY decline in 2QFY25 net profit to RM129.35m from RM145.07m, despite revenue rising 20.4% YoY to RM211.40m on stronger contributions from retail, industrial and other segments. UMS Integration Ltd posted a 10.1% YoY increase in 2QFY25 net profit to S$10.26m, supported by a 20.4% YoY rise in revenue to S$67.35m. Malaysia Smelting Corp Bhd posted a 16.6% YoY decline in 2QFY2025 net profit to RM13.95m, due to lower tin prices and sales volumes, while revenue fell 7.8% YoY to RM378.96m. Tex Cycle Technology (M) Bhd posted a 20.6% YoY increase in 2QFY2025 net profit to RM3.02m, supported by higher contributions from its trading and renewable energy divisions, as revenue rose 4.9% YoY to RM8.6m. Rhone Ma Holdings Bhd posted a 27.6% YoY rise in 2QFY25 net profit to RM3.46m, supported by lower material costs.
The Star
3 days ago
- Business
- The Star
MGB Bhd secures RM186MIL contract for 802 units of service apartments in Medini, Johor
PETALING JAYA: Leading construction, property development solutions provider and manufacturer of precast concrete products, MGB Bhd (MGB), announced on Aug 12 that its wholly-owned subsidiary, MGB Construction & Engineering Sdn Bhd, was awarded a construction contract valued at RM186mil by CI Medini Sdn Bhd for the development service apartments in Medini, Iskandar Puteri, Johor. The project is expected to commence by Sept 1, consisting of a seven-storey car park podium, a guard post, a facilities floor, and two towers, which comprise Tower A (32 storeys, 405 units) and Tower B (31 storeys, 397 units). The contract value replenishes MGB's existing construction orderbook, increasing it from RM1.07bil as of July 31 to approximately RM1.21bil. The project also builds on MGB's growing portfolio in Johor, adding to the on-going development of Pangsapuri Saujana Indah in Johor Baru and the completed Laman Bayu project in Batu Pahat. Commenting on the contract award, the group's executive chairman Tan Sri Ir Dr Lim Hock San said, 'We are honoured to be entrusted with the responsibility for this Project. This award is a significant milestone for MGB's Southern Region developments, as we expand our presence in the region. Medini is a thriving township with great potential, and we are enthusiastic about completing the Project and leaving our mark on its growth.' MGB Bhd executive chairman Tan Sri Ir Dr Lim Hock San. Additionally, the award enhances MGB's pipeline of construction jobs and reinforces its commitment to delivering quality homes that enhance living spaces and build communities while creating long-term value for stakeholders. It continues to demonstrate resilience and competitiveness, bolstering market confidence while expanding its reach into strategic regions. The group also deepens its collaboration with reputable developers and strengthens its positioning for future growth opportunities, both within Johor and nationwide. Established in 2007, MGB Bhd is a subsidiary of LBS Bina Group Berhad that has evolved into a construction and property development solutions provider, primarily focusing on providing efficient and cost-effective solutions across a wide range of industries, in particular building mass market and affordable living spaces for generational living in Malaysia. Through its subsidiaries, the group provides a full range of design, construction and development services including design and build, project management, civil engineering, value engineering, geotechnical specialisation, and manufacturing in Industrialised Building System (IBS) precast concrete products. CI Medini Sdn Bhd is an affiliated company of the Creed Group, a real estate firm from Japan specialising in principal investment and property management.
The Star
4 days ago
- Business
- The Star
MGB wins RM186mil building job
PETALING JAYA: MGB Bhd has accepted a letter of award from CI Medini Sdn Bhd for the development of two service apartment buildings in Medini, Iskandar Puteri, Johor Baru, worth RM185.99mil. In a filing with Bursa Malaysia, the construction and property development firm said the first phase will consist of a 32-storey block comprising 405 apartment units; a multi-storey podium car park and guardhouse. Construction will commence on Sept 1, 2025 and be completed by Nov 30, 2027. Meanwhile, the second phase will comprise a 31-storey block comprising 397 apartment units. MGB said construction will take up to 18 months. 'The contract will increase and enhance the existing order book of the company and its group of companies. 'With the contract in hand, the group's current outstanding order book is of approximately RM1.21bil,' it said.
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
MGB bags RM186m contract for Medini service apartment project
MGB Bhd, via wholly-owned unit MGB Construction & Engineering Sdn Bhd, has accepted a letter of award from CI Medini Sdn Bhd for main building and associated external works on a service apartment development in Medini, Iskandar Puteri, Johor Bahru. The contract, worth RM185.99 million, covers Phase 1 of the project comprising a 32-storey Tower A with 405 units, a seven-storey podium car park with facilities on the eighth floor, and a guardhouse. Work is scheduled to begin on Sept 1, 2025, and be completed by Nov 30, 2027. Phase 2 of the project will involve a 31-storey Tower B with 397 units, to be completed within 18 months from its commencement date, which will be advised later. MGB said the latest award raises its outstanding order book to approximately RM1.21 billion, and is expected to contribute positively to the group's earnings and net assets over the contract period. — TMR
The Star
4 days ago
- Business
- The Star
MGB wins RM186mil service apartment job
PETALING JAYA: MGB Bhd has accepted a letter of award from CI Medini Sdn Bhd for the development of two service apartment buildings in Medini, Iskandar Puteri, Johor Baru, worth RM185.99mil. In a filing with Bursa Malaysia, the construction and property development firm said the first phase will consist of a 32-storey block comprising 405 apartment units; a multi-storey podium car park and guardhouse. Construction will commence on Sept 1, 2025 and be completed by Nov 30, 2027. Meanwhile, the second phase will comprise a 31-storey block comprising 397 apartment units. MGB said construction will take up to 18 months. 'The contract will increase and enhance the existing order book of the company and its group of companies. 'With the contract in hand, the group's current outstanding order book is of approximately RM1.21bil.' MGB said the contract will have no effect on the issued share capital of the company but it is expected to contribute positively to its earnings and net assets per share over the duration of the contract.
