News by Billy Toh

The slowdown in the property sector has prolonged for over a year. Most analysts opine that the weak consumer sentiment and banks’ stringent lending policy will continue to pose earnings risk to property developers.

In a filing yesterday, the trust said it had made a provision to distribute RM11 million or 2.61 sen per unit to unitholders, down eight sen or 2.97%, compared with 2.69 sen per unit for 2QFY15.

At the current price, CMMT has a decent dividend yield of 5.08%.

Tropicana Corp Bhd is selling a freehold plot measuring 251.6 acres (101.8ha) in Gelang Patah, Johor, for RM569.9 million cash.

Sunway has diversified businesses across multiple industries, including property, construction, hospitality, leisure, trading and manufacturing, quarrying, building materials and healthcare.

Currently, about 90% of the revenue comes from the construction segment, while its development arm TRC Land Sdn Bhd contributes 10% from the group’s revenue.

Malaysia Building Society Bhd (MBSB)’s net profit for the first quarter ended March 31, 2016 (1QFY16) slumped by 71.98% to RM34.84 million, from RM124.31 million in the corresponding period a year ago, mainly due to higher allowances for impairment losses on loans, advances and financing with the continuation of the impairment programme initiated by the group in the fourth quarter of 2014.

Its net profit edged up 1.62% to RM61.47 million from RM60.49 million in the corresponding quarter last year, mainly due to higher NPI, according to its bourse filing.

EcoWorld president and chief executive officer Datuk Chang Khim Wah (pictured) said it had already received positive responses from buyers to the 45-storey block with strata offices in BBCC, known as The Stride, which is targeted at small and medium enterprises.

As IPO incentive with exercise to be completed prior to listing.