Ivory Properties to jointly develop residential properties in Kedah

KUALA LUMPUR (Aug 2): Ivory Properties Group Bhd has teamed up with ECK Development Sdn Bhd to jointly develop residential components at AirportCity and Aerotropolis in Kedah. In a bourse filing, the Penang-based property developer said it has entered into a binding term sheet with ECK for the venture on a land measuring 135 acres. ECK has in principal been appointed by …

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Revenue Group consortium submits application for digital banking licence

KUALA LUMPUR (August 2): A consortium comprising Revenue Group Bhd, Sarawak State and Kenanga Investment Bank Bhd has submitted its application for a digital banking licence from Bank Negara Malaysia (BNM). In a bourse filing today, Revenue said SSG Digital Resources Berhad, a special purpose vehicle for the consortium had on June 29 submitted the application for a digital banking …

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CIMB launches OctoSavers, its first fully digital Islamic savings account

KUALA LUMPUR (Aug 1): CIMB Bank Bhd and CIMB Islamic Bank Bhd have launched the CIMB OctoSavers Account-i, the bank’s first all-digital Islamic savings account, together with the new CIMB OctoDebit MasterCard. OctoSavers Account-i is specially curated for the convenience of new customers as the account opening and onboarding process are done entirely online, while the debit card will be …

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Kerjaya Prospek unit bags RM139m contract

KUALA LUMPUR (July 30): Construction outfit Kerjaya Prospek Group Bhd’s wholly-owned unit Kerjaya Prospek (M) Sdn Bhd has accepted a letter of award (LoA) from Damansara Peak Sdn Bhd, an indirect subsidiary of Eastern & Oriental Bhd (E&O), worth RM139 million. In a statement today, Kerjaya Prospek said the LoA is the group’s fourth contract secured this year, bringing its year-to-date …

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RHB: Good start for Tasco as six-fold 1Q profit spike beats street forecast

KUALA LUMPUR (July 30): Tasco Bhd’s six-fold first quarter (1QFY22) net profit spike to RM15.77 million from RM2.64 million a year earlier has beaten street estimates and positioned the logistics services provider for a good start in financial year ending March 31, 2022 (FY22), according to RHB Investment Bank Bhd today. RHB analysts Lester Siew and Lee Meng Horng wrote …

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Unisem posts 60.9% rise in 2Q profit, declares two sen dividend and proposes one-for-one bonus issue

KUALA LUMPUR (July 30): Unisem (M) Bhd’s net profit for the second quarter ended June 30, 2021 (2QFY21) rose 60.9% to RM54.64 million from RM33.95 million on higher sales volume and selling prices, as well as better interest income. The semiconductor assembly and test services provider posted earnings per share (EPS) of 6.8 sen for the quarter from 4.67 sen last year. …

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ESG concern outweighs high CPO prices, RHB downgrades plantation sector to underweight

KUALA LUMPUR (July 30): Crude palm oil (CPO) price has climbed back to above RM4,000 recently; plantation stocks, however, are not moving up in tandem with the upward trend. The reason is likely to be rising concern on environmental, social and governance (ESG) issues, according to RHB Investment Bank Research. In view of that, its plantation analysts Hoe Lee Leng …

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