News by EdgeProp.my

Radium Development Bhd yesterday announced its financial results for the first quarter of the financial year ending Dec 31, 2026 (1QFY2026), reflecting continued progress across its core property developments and the advancement of its longer-term diversification initiatives.

The Ministry of Transport (MOT) has defended the use of a single-source Request for Proposal (RFP) mechanism for the procurement of the RM7.93 billion Package 1 contract of the Penang Mutiara Line LRT project, citing legal continuity and technical considerations.

Explore living in Penang, Malaysia’s cultural gem. From seafront condos to heritage homes, discover neighbourhoods, connectivity and properies options across the island.

Matrix Concepts Holdings Bhd has sold industrial land within its MVV City development to logistics firm Golog Holdings Sdn Bhd to incorporate cold chain infrastructure into the Malaysia Vision Valley 2.0 (MVV 2.0) corridor, reinforcing the region's emergence as an integrated industrial and logistics hub.

The Real Estate and Housing Developers' Association Malaysia (Rehda) has expressed appreciation to the Ministry of Housing and Local Government (KPKT) for its continued commitment to supporting the housing industry through Inisiatif Simen Rahmah amid rising construction material costs and ongoing global economic pressures.

IGB Bhd posted a profit before tax (PBT) of RM621.47 million for the first quarter ended March 31, 2026, surging 219% from RM194.78 million in the corresponding quarter of 2025, primarily driven by a one-off gain from the strategic divestment of UK-based hotel assets and robust performance across its core property investment and hotel segments.

UEM Sunrise Bhd maintained profitability in the first quarter ended March 31, 2026, posting a profit before tax (PBT) of RM22.49 million and revenue of RM347.71 million, as its property development segment recorded a strong 24% revenue increase driven by improved sales and construction progress from key Central region projects.

S P Setia Bhd posted a profit before tax (PBT) of RM108 million and revenue of RM826 million for the first quarter ended March 31, as the group continued its debt reduction drive, trimming borrowings by RM500 million and improving its net gearing ratio to 0.31 times from 0.33 times at end-2025.

UDA Holdings Bhd (UDA) has launched its latest housing project, Residensi Mutiara in Johor, offering freehold townhomes priced from RM548,700 as part of efforts to expand homeownership opportunities and provide quality housing.

The Housing and Local Government Ministry (KPKT) has announced the continuation and expansion of the Rahmah Cement Scheme under the 13th Malaysia Plan (RMK13), offering subsidised cement at up to 30% lower prices for affordable housing projects nationwide.