Skip to main content

Featured Post

Malaysia and Singapore to Boost Cybercrime Cooperation in Cross-Border Crime Agreement

Key Takeaway: Cybercrime will be included in Malaysia-Singapore cross-border crime cooperation , as the two countries prepare to renew their Memorandum of Understanding (MOU) on the matter. Malaysia’s Home Minister, Datuk Seri Saifuddin Nasution Ismail, announced that cybercrime will be a new focus in Malaysia-Singapore cross-border crime collaboration . The updated MOU will be signed on Nov 14 during Saifuddin’s meeting with Singapore’s Minister of Home Affairs and Law, K. Shanmugam. This move reflects the growing threat of cybercrime , which costs ASEAN an estimated US$64 billion annually. The agreement emphasizes capacity-building, intelligence-sharing, and joint operations as vital components for addressing cybercrime. The exchange of MOU documents will occur at the Annual Leaders' Retreat on Dec 8 in Malaysia, which will be attended by the prime ministers of both nations. Saifuddin also highlighted plans to discuss border congestion issues and will visit Singapore’s Immi
Post a Comment

Paragon Globe Embarks on RM733 Million Residential Project in Johor

Paragon Globe Bhd has secured development rights for a 67.42-acre residential project in Iskandar Puteri, Johor, with a gross development value (GDV) of RM733.12 million. The agreement, struck between Paragon Globe Properties Sdn Bhd (PGPSB) and Iskandar Capital Sdn Bhd (ICSB), grants Paragon the rights to develop two prime freehold land parcels close to major roads, Jalan Ismail Sultan and Lebuh Kota Iskandar.

Project Details
The development will introduce 340 landed properties, including 324 semi-detached houses, two bungalows, and 14 bungalow land lots. Scheduled to begin in 2025, construction will span seven years, with a projected development cost of RM545.03 million, generating an estimated profit of RM188.09 million.

As part of the deal, PGPSB will pay RM102 million to ICSB in installments, funded through internal resources and bank loans. This venture aligns with Paragon Globe’s strategy to address housing demand in Iskandar Puteri and support growth within the Johor-Singapore Special Economic Zone (JS-SEZ), according to executive chairman Datuk Seri Edwin Tan Pei Seng.

Expansion and Future Plans
Besides the 67.42-acre project, PGPSB has also acquired rights to a 4.10-acre parcel on Jalan Marlborough. In August, Paragon Globe announced a RM1.49 billion GDV serviced apartment project in Johor Bahru through a partnership with Tropicana Danga Bay Sdn Bhd.

For the quarter ending June 30, 2024, Paragon Globe reported a net profit of RM5.73 million with revenue more than doubling year-on-year. The group had RM45.35 million in cash against RM164.27 million in combined loans by mid-year.

Paragon Globe’s shares dipped slightly, closing at 29 sen with a market cap of RM220.3 million, having risen 31% year-to-date.

Labels:

Comments

Post a Comment

Popular posts from this blog

INTC Share Watch and News

Stock Info Market Monitor Company Profile Intel Corporation designs, manufactures, and sells integrated circuits for computing and communications industries worldwide. It offers microprocessor products used in notebooks, netbooks, desktops, servers, workstations, storage products, embedded applications, communications products, consumer electronics devices, and handhelds. The company also offers system on chip products that integrate its core processing functionalities with other system components, such as graphics, audio, and video, onto a single chip. It also provides chipset products that send data between the microprocessor and input, display, and storage devices, such as keyboard, mouse, monitor, hard drive, and CD or DVD drives; motherboards that has connectors for attaching devices to the bus, and products designed for desktop, server, and workstation platforms; and wired and wireless connectivity products, including network adapters and embedded wireless cards used to translat
1 comment
Read more

3M Raises Profit Forecast After Beating Quarterly Estimates on Electronics Demand

3M Co raised the lower end of its full-year adjusted profit forecast after strong demand for electronics and industrial products helped the company surpass quarterly profit expectations. Shares of 3M were up 4.2% at $140.5 in pre-market trading. An increase in demand for electronics used in vehicles and mobile phones boosted profits for the company, which had previously faced challenges as high inflation led consumers to delay major purchases. The industrial sector is also expected to benefit from the recent US Federal Reserve decision to cut borrowing costs in September, encouraging more consumer spending. 3M has implemented cost-cutting measures, including job reductions and spinning off its healthcare business, to counter the impact of a demand slowdown . Key highlights from the report: Sales in the transportation and electronics segment grew 1.8% year-on-year. Sales in the safety and industrial segment , which produces adhesives for industrial use, increased by 0.5% . 3M&
Post a Comment
Read more

Key Corporate Updates from Malaysia

Ekovest Bhd : Major shareholder Tan Sri Lim Kang Hoo is considering selling his toll-road business, Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (Kesturi), for up to RM5 billion. Ekovest owns 60% of Kesturi, with the remainder held by the Employees Provident Fund (EPF). Eco World Development Group Bhd : Through its subsidiary Mutiara Balau Sdn Bhd, EcoWorld is acquiring 847.25 acres in Semenyih, Selangor for RM742.41 million to develop Eco Forest 2, a project with an estimated RM4.6 billion in gross development value. Mah Sing Group Bhd : Mah Sing has purchased 5.24 acres on Old Klang Road for RM113 million to build M Aurora, a transit-oriented development with an estimated RM660 million gross development value, anticipated for launch in early 2025. Pentamaster Corp Bhd : The company’s third-quarter net profit dropped 49.9% to RM11.77 million, impacted by lower sales in its automated test equipment division and foreign exchange losses. Sentral REIT : The REIT saw a 25
Post a Comment
Read more