Company news: Yinson Holdings plans RM30 billion capex for floating production storage

Malaysian Resources Corp Bhd is said to have won the bid for the Ipoh Railway Station Integrated Development Plan (iRide) project, which will be inked on Thursday (Jan 23) in Ipoh, Perak, according to sources.

MNRB Holdings Bhd reported a 36.93% increase in its net profit for the third quarter ended Dec 31, 2024 (3QFY2025) to RM115.86 million from RM84.61 million a year earlier on the back of a RM136.7 million jump in the group’s insurance service earnings.

CIMB Group Holdings Bhd’s 94.83%-owned CIMB Thai Bank PCL saw its net profit surge 77.7% to 2.85 billion baht (RM374.5 million) for the financial year ended Dec 31, 2024 (FY2024), up from 1.61 billion baht a year earlier, thanks to higher operating income and lower expected credit losses.

Pansar Bhd secured a RM477.69 million contract to design and build the Serian-Gedong-Samarahan dual carriageway highway from the Sarawak Public Works Department.

Floating storage

Yinson Holdings Bhd’s floating production storage and offloading unit Yinson Production Offshore Pte Ltd plans to allocate US$4.5 billion to US$6 billion (RM20.2 billion to RM30 billion) capital expenditure in the next three years to expand ahead of a possible initial public offering (IPO) in the US.

Mah Sing Group Bhd is purchasing a 2.78-acre prime land in Sentul here for RM32 million, where it plans to develop its new RM283 million residential development project dubbed M Aria.

YNH Property Bhd is disposing of a two-storey shopping centre, AEON Mall Seri Manjung in Perak, to Sunway Real Estate Investment Trust for RM138 million.

Alpha IVF Group Bhd’s net profit for its second quarter ended Nov 30, 2024 (2QFY2025) increased 23.6% to RM15.1 million, from RM12.21 million a year ago, thanks to higher sales revenue from foreign patients.

KIP Real Estate Investment Trust posted a 28.9% rise in NPI for the second quarter ended Dec 31, 2024 (2QFY2025) to RM21.62 million, from RM16.78 million a year earlier on better performance of its malls, bolstered by newly acquired retail assets, Cyberjaya mall D’Pulze and Perak hypermarket TF Value.

UOA Real Estate Investment Trust posted a 8.55% increase in net rental income for the fourth quarter ended Dec 31, 2024 (4QFY2024) to RM20.36 million from RM18.76 million in the same period a year earlier on improved occupancy.

Taghill Holdings Bhd’s said it has secured a RM58 million contract for construction work on an 18-storey commercial complex in Ipoh.

KTI Landmark Bhd is exploring a potential affordable housing project in Kota Kinabalu, Sabah, to be jointly developed with a state government agency.

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