Bursa Malaysia has approved Perak Corp Bhd’s proposed regularisation plan, clearing the path for the PN17-listed company to proceed with a multi-part restructuring aimed at restoring financial stability and lifting its financially distressed status. The approval is subject to standard conditions, including compliance with Bursa listing requirements, obtaining all necessary regulatory approvals, securing shareholder consent at a general meeting, and incorporating any required comments into the shareholder circular, Perak Corp said in a filing. First outlined in February 2025, the regularisation plan involves a combination of capital reduction, joint development projects, land sales, entitlement receipts, and preference share issuance to restructure outstanding debts. The capital reduction will cancel RM185 million of the company’s RM272.77 million share capital to offset accumulated losses of RM177.35 million as of September 2024. Perak Corp also entered into a joint venture with major shareholder Perak State Development Corp (PKNP) in January 2025 to co-develop the Silver Valley Technology Park Industrial Hub in Hulu Kinta. The plan includes land disposals of 424.7 acres in Bernam Timor for RM89.6 million, with 73.14 acres sold to Makmur Impian Property Sdn Bhd for RM21.13 million and 351.56 acres to Tanjung Malim Hi-Tech Park Sdn Bhd for RM68.44 million. In addition, the company is entitled to RM40.38 million via a supplemental agreement with PKNP and Uni-Poh Construction Works Sdn Bhd for the development of 56.3 acres of land in Teluk Dalam. To settle debts under a court-approved scheme of arrangement, Perak Corp will issue up to 39.73 million redeemable preference shares series B (RPS-B) at RM1 each to unsecured scheme creditors. The RPS-B carries a five-year tenure, a 2% preferential dividend, and is non-convertible. Outstanding debts not covered by the issuance will be fully waived, representing a RM357.6 million reduction against the company’s RM379.34 million verified debt. Perak Corp had previously issued two other preference share series — 20.9 million RPS-A1 and 14.91 million RPS-A2 — in January 2022 to CIMB Bank Bhd and Affin Islamic Bank Bhd as part of earlier debt-settlement arrangements. Proceeds of RM129.95 million from land sales and settlement entitlements will be used to redeem existing preference shares, fund sewerage treatment works at Bandar Meru Raya, and support working capital needs. Shares in Perak Corp were untraded on Monday. The counter last closed at 70 sen, giving it a market capitalisation of RM70 million.

CAB Cakaran Corp Bhd is proposing to acquire a single-storey detached industrial building with an adjoining double-storey office in Kuantan, Pahang, for RM2.8 million from Fah Leong Sdn Bhd. In a filing with Bursa Malaysia, the poultry and food products group said the proposed acquisition is aimed at securing ownership of the premises currently leased and occupied by its subsidiary, Pasaraya Jaya Gading Sdn Bhd (PJG). The property is presently used as a supermarket outlet, office and warehouse to support PJG’s operations in the region. CAB Cakaran said the move will enable the group to reduce recurring rental expenses and shield itself from future rental increases, thereby improving cost visibility and long-term financial planning. “The acquisition is expected to result in annual rental savings and mitigate exposure to rental escalation, which will enhance cost certainty and provide greater operational control over the premises,” the company said. It added that owning the property will allow PJG to plan its operations more efficiently and support business continuity and stability over the longer term, in line with the group’s strategy to strengthen its operational footprint.

Vestland Bhd has decided not to proceed with three affordable housing projects in Selangor with a combined contract value of up to RM550.69 million that were awarded in 2022. In a filing with Bursa Malaysia, the construction group said its wholly owned unit, Vestland Resources Sdn Bhd, and developer Splendid Forte Development Sdn Bhd had mutually agreed to terminate the contracts. The projects involve Selangor Cyber Valley Phase 1 and Phase II in Dengkil, Sepang, as well as the Sierra Alam development in Bukit Raja, Petaling. The Selangor Cyber Valley Phase 1 project was valued at RM234.86 million, while Phase II was worth RM198.50 million. The Sierra Alam project carried a contract value of up to RM117.33 million. All three projects fall under the Selangor state government’s affordable housing scheme and cover residential construction, infrastructure works and landscaping. Vestland said construction work had not commenced on any of the projects. It did not disclose specific reasons for the termination, noting only that the decision was made after taking into account all relevant factors and was in the best interest of the company. The group added that the contract terminations are not expected to have any material impact on its earnings or net assets for the financial year ending Dec 31, 2026. Shares in Vestland ended unchanged at 46 sen on Thursday, giving the company a market capitalisation of RM434.4 million.

Chin Hin Group Property Bhd has called off the RM74 million sale of its commercial vehicle and bodyworks businesses after the buyer was unable to secure financing, delaying the company’s plan to concentrate fully on property development. In a Bursa Malaysia filing on Thursday, the group said it had mutually agreed with N&K Resources (M) Sdn Bhd to terminate the share sale agreement dated Aug 14, 2025, after the buyer failed to obtain bank financing covering at least 70% of the disposal price by the extended deadline of Jan 14. N&K Resources is a real estate company owned by All Trade Resources (Malaysia) Sdn Bhd. Chin Hin had intended to divest its entire equity stakes in four subsidiaries: Boon Koon Vehicles Industries Sdn Bhd, BKCV Sdn Bhd, Boon Koon Fleet Management Sdn Bhd, and BK Fleet Management Sdn Bhd. The company said it will refund the RM7.4 million deposit paid by the buyer, without interest, and confirmed that both parties will have no further obligations under the agreement. Chin Hin Property added that the cancellation will not affect its issued share capital or have any material impact on its net assets, gearing, or earnings for the financial year ended Dec 31, 2025. The divestment, initially announced in August 2025, was aimed at enabling the group to focus on residential property projects, strengthen cash flow, and redeploy proceeds for landbank acquisitions and ongoing developments. The sale was expected to generate a pre-tax gain of RM2.4 million and was targeted for completion in the first quarter of 2026. Shares of Chin Hin Property closed up one sen, or 0.85%, at RM1.18 on Thursday, giving the group a market value of about RM1.64 billion. The stock has gained more than 7% over the past year.

IGB Bhd’s associates have sold UK-based assets, including the St Giles Hotel London, for a total of £220 million (RM1.2 billion). In a Bursa filing on Monday, the company said its 49.47%-owned associates — 12 Bedford Avenue Ltd (Bedford) and St Giles Hotel Limited (SGHL) — entered into two separate sales agreements last Friday. The announcement was made after trading hours on Jan 9, 2026. The first deal saw Bedford sell all shares of its wholly owned subsidiary, Ravencroft Investments Inc (RII), to Hiro Intermediate Holdings Ltd. The second involved SGHL selling the St Giles Hotel London’s business and assets to Bedford Avenue Hotel Opco Ltd. The sale price was agreed upon after fair negotiations, with the latest valuation of the hotel, conducted on July 24, 2024, at £228.5 million. IGB’s share of the associates’ net gain from the transactions is estimated at RM452.6 million. Both deals were completed on Jan 9, 2026, with agreements executed and payments received. Apart from Datuk Seri Robert Tan Chung Meng — a director of the selling entities — and Wah Seong Manufacturing Sdn Bhd, a major shareholder in both associates with a 45.91% stake, no other IGB directors, major shareholders, or connected persons were involved in the transactions. Trading of IGB shares was temporarily suspended on Monday morning and resumed at 10am.

Sarawak’s transport landscape is set for a major transformation with the launch of the autonomous rapid transit (ART) system, which is scheduled to begin operations this year along the Samarahan–Kuching route. Plans are already underway to extend the ART network to the new Kuching International Airport in Tanjung Embang, Asajaya district, in the Samarahan Division. Sarawak Tourism, Creative Industry and Performing Arts Minister Datuk Seri Abdul Karim Rahman Hamzah. Sarawak Tourism, Creative Industry and Performing Arts Minister Datuk Seri Abdul Karim Rahman Hamzah said the ART route would operate similarly to the Kuala Lumpur International Airport Terminal 1–Terminal 2 link, providing fast and efficient passenger transfers. “All this is expected to be realised within the next five years,” he said at the closing of the Asajaya Ambal Festival 2026. Powered by hydrogen, the ART system will serve as the backbone of the billion-ringgit Kuching Urban Transportation System (KUTS), developed by Sarawak Metro Sdn Bhd. The first stage of the project is targeted for operational launch by the end of this year. Abdul Karim, who also serves as Asajaya assemblyman, highlighted that the airport project will impact several villages, with land acquisition and compensation currently in progress. The new airport is projected to handle up to 15 million passengers annually and will feature state-of-the-art infrastructure, according to Sarawak Premier Tan Sri Abang Johari Tun Openg. In addition to the airport, the state plans to develop a new deep-sea port at Tanjung Embang. Abdul Karim noted that with these two major projects, Asajaya—once a remote and difficult-to-access area—will emerge as a key transportation hub for Sarawak. Earlier this year, Sarawak Metro officially transitioned into a state-owned enterprise under the Sarawak State Financial Secretary, marking an important step in the state’s corporate restructuring efforts. Mazli Mustaffa, Sarawak Metro’s CEO, said the move demonstrates the government’s commitment to streamlining operations and enhancing public transport development. “This is an exciting phase for Sarawak Metro, but it also brings greater responsibility with more deliverables in the years ahead,” he said. Mazli noted that 2026 will be a particularly demanding year as major infrastructure work for KUTS ramps up, with revenue service for the ART system’s first phase expected by year-end. Last week, he briefed Sarawak Transport Minister Datuk Seri Lee Kim Shin on progress at the ART interchange station at Simpang Tiga. Construction of the ART network began two years ago, starting with the Blue Line, followed by the Red Line. The first phase of KUTS spans 69.9km, comprising the Blue, Red, and Green lines, and will include 28 stations. Blue Line: 27.6km from Rembus near Summer Mall in Samarahan to Hikmah Exchange in Kuching city centre. The Rembus depot will serve as the central hub for ART operations and administration. Key stations will include University Malaysia Sarawak, Sarawak Heart Centre, Sarawak General Hospital, Swinburne University, major shipping complexes, and other strategic locations. Red Line: 12.3km connecting Kuching Sentral regional bus terminal to Pending, with stations at the new Kuching International Airport and prominent shopping centres. Green Line: 30km from Pending to Damai Central in Santubong. Once complete, the ART system will provide seamless, efficient, and environmentally friendly transport across Kuching and Samarahan, significantly enhancing connectivity for residents, businesses, and visitors alike.