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KLSE:SUNWAY

4 stories mentioning KLSE:SUNWAYUpdated 35d ago

Every FINWIRES story that references KLSE:SUNWAY, newest first.

Asia

China State Construction, Malaysia's Sunway to Form JV for Singapore Residential Project

China State Construction Engineering (SHA:601668) will form a joint venture with Malaysia's Sunway Group (KLSE:SUNWAY) to develop a residential project in Singapore's River Valley area.The consortium, comprising unit CSCEC Property Singapore and Sunway MCL, won the bid for an 11,500-square-meter site with a total gross floor area of 40,300 square meters.Total investment is estimated at 6.61 billion yuan, according to a Thursday bourse filing.The JV will be owned 40% by CSCEC Property and 60% by Sunway MCL.

KLSE:SUNWAYSHA:601668
Research

TA Securities Upgrades Sunway to Buy from Hold; Price Target is MYR5.81

Sunway (KLSE:SUNWAY) has an average rating of overweight and mean price target of 5.76 ringgit, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

KLSE:SUNWAY
Asia

Malaysian Shares Book Seventh Day of Losses on Higher Oil, Diesel Prices; PUC Shares Rally 25%

Malaysian shares fell for a seventh straight session on Thursday, after the country hiked prices of unsubsidized oil and diesel.The FTSE Bursa Malaysia KLCI shed 9.33 points to end nearly 0.5% lower at 1,708.36. The day range was between 1,708.36 and 1,722.50.Malaysia increased retail fuel prices for unsubsidized petrol and diesel amid ongoing geopolitical tensions in West Asia. RON97 rose by 0.15 ringgit to 4.85 ringgit per liter, unsubsidized RON95 petrol increased by 0.20 ringgit to 4.07 ringgit per liter, while diesel in Peninsular Malaysia climbed 0.10 ringgit to 4.97 ringgit per liter.In corporate news, shares of PUC (KLSE:PUC) jumped 25% on Thursday's close after its unit G Universe said it will acquire a 100% stake in IT specialist GenieX Lab for 1 million ringgit in cash.Sunway Healthcare's (KLSE:SUNMED) first-quarter profit dropped to 33.3 million ringgit from 38.8 million ringgit a year earlier. The company attributed the slump to higher depreciation, finance costs, and IPO-related expenses weighing on earnings. Shares slid 1% on today's close.The Malaysian Anti-Corruption Commission's (MACC) two investigation papers on Sunway's (KLSE:SUNWAY) proposed acquisition of IJM (KLSE:IJM) remain active, after finding possible offences under anti-corruption and anti-money laundering laws involving two individuals, The Star reported.

FTSE Bursa Malaysia KLCIKLSE:IJMKLSE:PUCKLSE:SUNMEDKLSE:SUNWAY
Asia

Market Chatter: Malaysian Watchdog Keeps Probe Open into IJM-Sunway Deal, Clears Chairman

The Malaysian Anti-Corruption Commission's (MACC) two investigation papers on Sunway's (KLSE:SUNWAY) proposed acquisition of IJM (KLSE:IJM) remain active, after finding possible offences under anti-corruption and anti-money laundering laws involving two individuals, The Star reported Wednesday.The agency has taken statements from 13 people so far as part of the probe, according to the report.Separately, MACC said its investigation into IJM's chairman Krishnan Tan has been closed with no further action, as no criminal wrongdoing or governance breaches were found. It also dismissed 2.5 billion ringgit money laundering allegations after joint checks with Bank Negara Malaysia, tax authorities and the UK Serious Fraud Office found no supporting evidence, the news outlet said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

KLSE:IJMKLSE:SUNWAY

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