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IOI Prop posts jump in first quarter earnings

KUALA LUMPUR: IOI Properties Group Bhd (IOI Prop) posted a 28.1% jump in earnings to RM242.85mil for the first quarter ended Sept 30, 2017, on higher profits in all its main business segments.

IOI City Mall is part of a mixed development at the edge of Putrajaya that includes office towers and Le Meridien Hotel. - Filepic

Hong Leong shifting Thistle ownership to Singapore unit

KUALA LUMPUR: The Hong Leong group is shifting the entire ownership of Thistle Port Dickson Resort (Thistle PD) and Thistle Johor Baru (Thistle JB) from its Malaysian-listed subsidiary, GuocoLand (M) Bhd, to its subsidiary listed across the causeway, GuocoLand Ltd (GLL).

Cashing out: File picture of Thistle Port Dickson Resort. GuocoLand Malaysia says the proposed disposal of Thistle Port Dickson, Thistle Johor Baru and JB Parade will enable it to realise its investments in these assets.

Tadmax, Kepco in power plant project

KUALA LUMPUR: Tadmax Resources Bhd is teaming up with South Korea’s largest electric utility, Korea Electric Power Corp (Kepco) to develop the proposed RM3.5bil power plant in Pulau Indah, Selangor.

Heon redesignated as Alcom president cum CEO

KUALA LUMPUR: Aluminium Company of Malaysia Bhd (Alcom) managing director Heon Chee Shyong has been redesignated as president cum chief executive officer effective immediately.

In a filing with Bursa Malaysia yesterday, the aluminium sheet and foil maker said Heon, 50, had accumulated 22 years of working experience within the NS BlueScope Steel group holding numerous key leadership roles.  He is currently the chairman of Aluminium Manufacturers Group of Malaysia.

Range trading likely

REVIEW: Bursa Malaysia kicked off the week on a steadier platform, with the FBM KLCI advancing 1.78 points to 1,747.91 amid extended buying post-budget on “feel good” factor.