Court orders Sime Darby Property to repay RM36.23 million for overcompensated land
The Shah Alam High Court has ordered Sime Darby Property Bhd to repay RM36.23 million to the Malaysian Highway Authority (LLM), plus 5% annual interest, after finding the developer received excess compensation for seven plots of land compulsorily acquired f…
Source: The Edge Malaysia · July 22, 2026 at 7:30 AM · AI-assisted report
KUALA LUMPUR, 22 JULY 2026 —
Listen to this article
DomainFork Audio · read aloud
The Shah Alam High Court has ordered Sime Darby Property Bhd to repay RM36.23 million to the Malaysian Highway Authority (LLM), plus 5% annual interest, after finding the developer received excess compensation for seven plots of land compulsorily acquired for the West Coast Expressway in 2015.
Market Impact
Sime Darby Property said the court ruled the company was overpaid for the land under the Land Acquisition Act 1960, which was earmarked for the expressway linking Klang to Ipoh. The developer told Bursa Malaysia the judgment will create a financial impact through the repayment and accrued interest but insisted it will not materially affect operations.
The company said it is reviewing the decision and considering its next steps, including potential appeals. LLM has not publicly commented on the ruling.
Chemical manufacturer Ancom Nylex Bhd posted its strongest quarterly profit in nearly four years, lifting full-year earnings as demand for specialty chemicals strengthened. The company reported net profit of RM25.03 million in the fourth quarter ended May 31, 2026, up 46% from RM17.07 million a year earlier. Revenue rose 32% to RM608.88 million from RM459.37 million.
For the full financial year, Ancom Nylex earned RM81.44 million, compared with RM63.49 million in FY2025. Revenue increased to RM1.93 billion from RM1.87 billion. The group declared a third interim dividend of 0.5 sen per share and proposed a one-for-200 treasury share distribution.
PRG Holdings Bhd rejected an extraordinary general meeting requisition from Datuk Sheah Kok Fah and three other shareholders, saying their combined shareholding did not meet the 10% threshold required under the Companies Act. The board obtained independent legal advice and concluded the requisition notice was invalid because some requisitionists’ holdings were not registered in their personal names.
The rejected shareholders—Sheah, Sy Dioceldo Sy, Cheah Eng Chuan and Datuk James Jr Lee Weng Kei—had sought to remove group managing director Andrew Chan Lim-Fai and appoint Sheah, Datuk Richard George Azlan Abas and Datuk Dr Teo Tong Kooi as directors. PRG said it will not convene the EGM.
Geohan Corporation Bhd secured a RM40.9 million contract for foundation and structural works for a mixed development along Persiaran KLCC in Kuala Lumpur. The project comprises two 65-storey serviced apartment towers with 850 units and includes bored piling, reinforced concrete work and basement walls.
The award to Geohan Sdn Bhd, a unit of the group, was given by China State Construction Engineering (M) Sdn Bhd, a subsidiary of China State Construction Engineering Corporation. The contract brings Geohan’s year-to-date wins to more than RM200 million, following a RM28 million deal for the Xintiandi development in Genting Permai.
Sarawak builder Hartanah Kenyalang Bhd won a RM41.38 million contract to construct multi-storey buildings and ancillary facilities in the state. Hartanah Construction Sdn Bhd, the group’s unit, received the award from a Malaysian company active in construction services in Sarawak, but the client’s identity was not disclosed.
Construction firm MGB Bhd said its indirect unit MGB International For Industry secured a RM44.7 million contract in Saudi Arabia for mechanical, electrical and plumbing (MEP) and finishing works at a villa development. The 10-month project covers 75 villas and was awarded by Roshn Group Company, a single-shareholder closed joint-stock company based in Riyadh.
Related: Sime Darby Property