FBMKLCI 1561.93 DJ-17.26 CRUDE OIL 110.30 RM 2.993

MRCB expects to reap about RM300 million from a proposed mixed development project in Setapak, Kuala Lumpur. It proposed to acquire a company, 59 iNC Sdn Bhd, which has the rights to develop 27.41 acres of land in Setapak here, from RM110 million. It planned to undertake a mixed development project, comprising commercial and residential PROPERTIES [], with a gross development value (GDV) of RM1.5 billion. “At a total development cost of approximately RM1.2 billion, the expected profits to be derived from the said development amount to about RM300 million representing 20% of the GDV,” MRCB said.

The Edge FinancialDaily reports Nippon Steel Corp, the world's fourth largest steelmaker, says it intends to raise its stake in Tatt Giap subsidiary Nippon EGalv Steel Sdn Bhd, which manufactures electro-galvanised steel.

Boustead Holdings has set aside RM1 billion in capital expenditure this year to expand the businesses it recently acquired, PHARMANIAGA BHD [] and MHS Aviation Bhd, to boost group earnings.

Lion Corp is seeking the approval from the lenders to defer the repayment of its bonds and the coupon on loan stocks from April 30 to July 31. The deferment involved the redemption of the outstanding nominal value of the Lion Corp B(a) bonds, class B (b) bonds amounting to RM54.35 million; repayment of the outstanding nominal value of the B debts amounting to US$100,000.

Sozo Global Limited has entered into a memorandum of understanding (MoU) with Halal Industry Development Corporation Sdn Bhd (HDC) to co-operate towards promoting and developing the Halal market.