<div class=newsTextDataWrapInner>SINGAPORE (July 8): The tender for a government land sale (GLS) site at Chuan Grove closed on Tuesday, July 8, drawing seven bids. A joint venture between Sing Holdings and Sunway (KL:<a href="/askedge/klse/5211" class="ce-stock" target="_blank">SUNWAY</a>)&nbsp;submitted the highest bid of S$703.6 million (RM2.34 billion), or S$1,376 psf per plot ratio (ppr).</div>

<div class=newsTextDataWrapInner>In a filing with the Singapore Exchange, Lee Sze Hao, the chief executive officer of Sing Holdings, said that if awarded the site, the JV plans to develop a residential project comprising three high-rise towers with approximately 550 units. It will also have "full facilities and community-centric features", he added.</div>

<div class=newsTextDataWrapInner>The JV’s bid was 7.3% more than the second-highest bid of S$655.5 million (S$1,282 psf ppr) submitted by City Developments (CDL). The third-highest bidder, Sim Lian Group, submitted a bid just S$500,000 less than CDL’s, translating into S$1,281 psf ppr<a href="https://www.edgeprop.sg/property-news/sing-holdings-sunway-developments-jv-tops-seven-bids-chuan-grove-gls-site-1376-psf-ppr" target="_blank">...(click here for the full story on EdgeProp Singapore).</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

The tender for a government land sale (GLS) site at Chuan Grove closed on Tuesday, July 8, drawing seven bids. A joint venture between Sing Holdings and Sunway (KL:SUNWAY) submitted the highest bid of S$703.6 million (RM2.34 billion), or S$1,376 psf per plot ratio (ppr).

Sing Holdings-Sunway JV tops bids for Chuan Grove site at S$1,376 psf per plot ratio

Here is a brief recap of some business news and corporate announcements that made headlines on Tuesday.

Yinson, Gamuda, SD Guthrie, AEON Credit, UMS Integration, Kelington, Vantris, Supermax, Apollo, VS Industry, Sern Kou

Kim Loong Resources Bhd’s (KL:KMLOONG) second-quarter net profit dropped 5%, weighed down by lower fresh fruit bunch (FFB) production and reduced crude palm oil (CPO) sales volume.

Kim Loong's 2Q profit drops 5% on lower FFB, palm oil sales

The benchmark S&P 500 was flat on Tuesday, as rising government bond yields hurt risk sentiment and offset gains in AI-related stocks driven by optimism about Anthropic's plan to go public.

S&P 500 flat as higher bond yields counter tech optimism

OpenAI's annual recurring revenue is nearing US$70 billion (RM285.4 billion) as enterprise sales more than doubled since July, Axios reported on Tuesday, citing sources familiar with the financials of the start-up.

OpenAI's annual recurring revenue nears US$70b — report

US President Donald Trump will meet on Tuesday with tech executives including Meta CEO Mark Zuckerberg, Google's Sundar Pichai and Anthropic's Dario Amodei to discuss AI, as calls ramp up for more regulation of the fast-developing technology.

Trump to host Anthropic's Amodei, Nvidia's Huang, other AI execs, as fears mount

US job openings fell in August, but layoffs remained low, pointing to a stable labour market.

US job openings fall in August; layoffs remain low

US consumer confidence fell in September to the lowest level since 2014 as pessimism grew about the economy and the labour market.

US consumer confidence plunges to lowest level since 2014

The interim report on the implementation of the Felda Group Strategic Roadmap 2025–2030 was submitted to Prime Minister Datuk Seri Anwar Ibrahim on Sept 25.

Interim report on Felda’s strategic roadmap submitted to PM on Sept 25 

Sern Kou Resources Bud (KL:SERNKOU) said on Tuesday that its will wind down its plywood manufacturing unit due to continuous quarterly loses since the financial year ended June 30, 2024 (FY2024).

Sern Kou to wind down loss-making plywood manufacturing unit 

Careplus Group Bhd (KL:CAREPLS) plans to raise up to RM29.78 million through a rights issue to help fund the ongoing construction of the group's energy vehicle manufacturing hub in Chembong, Negeri Sembilan.

Careplus plans rights issue to raise up to RM30 mil to fund energy vehicle hub

The High Court has granted an interim (temporary) stay sought by businessman Datuk Seri Mahmud Abu Bekir Taib, over an order to pay RM41.8 million in additional assessments and penalty imposed by the Inland Revenue Board (IRB) for the years 2021 to 2024 that had been issued on him in June this year.

High Court grants Mahmud Abu Bekir stay from paying RM41.8m additional taxes, penalty

Gamuda Bhd (KL:GAMUDA) closed its financial year ended July 31, 2026 (FY2026) with a net profit topping RM1 billion for the second straight year, as its construction order book reached a record high.

Gamuda's annual net profit tops RM1b for second straight year, order book hits RM61b

UMS Integration Ltd (KL:UMSINT) is seeking to raise up to RM450 million through a placement representing 5.63% of its enlarged share capital, to fund projects in Penang, Malaysia, as well as expansion in Vietnam and Singapore.

UMS Integration seeks to raise RM450m via placement for Penang, Vietnam and Singapore expansion

VS Industry Bhd (KL:VS) posted its first full-year loss since it was listed in 1998, dragged down by lower orders placed by key customers amid weak global consumer sentiment.

VS Industry records first full year loss on lower orders

Crescendo Corp Bhd's (KL:CRESNDO) net profit more than quadrupled in the second quarter due to the sale of two parcels of land in Johor to data centre developers.&nbsp;

Crescendo’s 2Q net profit surges over fourfold to RM70.6m, declares 2 sen dividend  

Here is a brief recap of some business news and corporate announcements that made&nbsp;headlines on Tuesday.

SNS Network Technology Bhd's (KL:SNS) second-quarter net profit declined 37.3%, weighed down by lower sales and higher expenses.

SNS Network's 2Q profit down 37% on higher costs and delivery delays, declares  0.25 sen dividend

Scientex Bhd (KL:SCIENTX) is acquiring a 70% stake in Hunan Changcheng Mint New Material Technology Co Ltd (Mintpack), a plastic packaging manufacturer in China’s Hunan province, for 167.3 million yuan (RM101.5 million), as it seeks to expand its footprint in China.

Scientex to acquire 70% stake in China plastic packaging maker for RM101.5m

On Sept 28, Malaysia said goodbye to Tun Dr Siti Hasmah Mohd Ali.

Opinion: The quiet place beside history — Remembering Tun Dr Siti Hasmah Mohd Ali, 1926–2026

A witness on Tuesday denied that changing the term “advisory fee” in a project advisory agreement&nbsp;to “commission” in his witness statement was intended to enable the case involving Sayed Amir Muzzakkir Al Sayed Mohamad to be brought under the Malaysian Anti-Corruption Commission (MACC) Act.

Witness denies changing 'advisory fee' to 'commission' to bring case of Hamzah's former secretary under MACC Act

Palm oil could trade at a premium to soyoil in 2027 as El Niño threatens production and rising biodiesel demand in top exporter Indonesia tightens supplies, a senior industry official told Reuters on Tuesday.

Palm oil may gain premium over soyoil in 2027 on supply risks, says industry official

Johor-based property developer Faire Bhd is seeking to list on the ACE Market of Bursa Malaysia in order to raise funds for its expansion into industrial properties.

Johor-based Faire files ACE Market IPO to expand into industrial properties

China announced several steps to encourage banks to lend to targeted sectors including infrastructure and technology, in an attempt to juice growth after a months-long slowdown in the economy.

China expands targeted lending to bolster economy, cuts PSL rate

Fifty residents of Taman Sri Muda on Tuesday won a lawsuit against the government and several public authorities over the devastating floods that struck the area in December 2021.

Taman Sri Muda residents win flood lawsuit against govt, several authorities

Confectioner Apollo Food Holdings Bhd (KL:APOLLO) posted a 9.5% increase in net profit for its first quarter as stronger sales helped offset higher costs.

Apollo Food 1Q profit up nearly 10% on strong sales 

MNC Wireless Bhd (KL:MNC) said on Tuesday it is terminating the services of its advisers for its proposed capital reduction exercise of RM83 million.

MNC Wireless switches out advisers for RM83m capital reduction exercise

Anthropic is making a massive bet that AI will transform the global economy more profoundly than industrialisation, electricity and the internet, according to its IPO prospectus seen by Reuters.

Anthropic's IPO prospectus shows sweeping AI vision, surging costs

AEON Credit Service (M) Bhd (KL:AEONCR) reported a 18% drop in its net profit for the second quarter amid higher impairment losses on financing receivables.

AEON Credit 2Q net profit drops 18% on higher impairment losses

Anthropic said it expects to spend at least US$518 billion (RM2.1 trillion) over a decade building AI infrastructure with six partners, according to a confidential IPO prospectus seen by Reuters — a plan that ranks among the largest AI buildout commitments on record.

Anthropic's US$518b AI buildout hinges largely on deals that cannot be cancelled, filing shows

Careplus Group Bhd (KL:CAREPLS) plans to raise up to RM29.78 million through a rights issue to help fund the ongoing construction of the group's energy vehicle manufacturing hub in Chembong, Negeri Sembilan.