News by Emir Zainul

Property group MKH Bhd has obtained approval from its shareholders for the proposed listing of its wholly owned plantation subsidiary MKH Oil Palm (East Kalimantan) Bhd (MKHOP) on the Main Market of Bursa Malaysia.

Gadang Holdings Bhd is acquiring a 21.08-acre land in Kwasa Damansara for RM114.78 million, or RM125 per square feet, to be developed into a residential project.

KLCCP Stapled Group’s net profit rose 4.96% to RM185.34 million in the third quarter ended Sept 30, 2023 (3QFY2023), from RM176.59 million a year ago, on improved hotel and management services while the office segment remained steady.

... mainly due to higher finance cost arising from borrowings made to acquire a concession business.

Builder-cum-property developer WCT Holdings Bhd has gone back to the red in the third quarter ended Sept 30, 2023 (3QFY2023) with a net loss of RM13.54 million despite stronger revenue compared to a net profit of RM12.49 million a year ago, due to absence of positive one-off items recognised in the previous corresponding quarter — including a land disposal gain.

The ban on short-term rental in Penang has resulted in an increase in property values and rental yields, according to Eastern & Oriental Bhd (E&O).

Property developer Eastern & Oriental Bhd (E&O) has recorded a net profit of RM29.73 million in its second financial quarter ended Sept 30, 2023 (2QFY2024), a huge leap from the RM16,000 net profit posted a year ago, mainly due to enhanced revenue and absence of unrealised foreign exchange loss of RM19.9 million recognised in 2QFY2023.

Quarterly revenue rose 20.6% to RM217.89 million from RM180.72 million in 3QFY22, attributed to heightened construction activities and sales conversion from various projects.

LBS Bina said that its subsidiary Setara Armada Sdn Bhd, in collaboration with MWG Power Sdn Bhd and Ocean Solar Energy Sdn Bhd as a consortium, had been selected as the solar power producer under the CGPP by the Energy Commission for the development of a 28.67MW solar power plant.

Prime Minister Datuk Seri Anwar Ibrahim has instructed the Kuala Lumpur City Hall (DBKL) to submit periodic reports within the next two weeks, on the implementation of decisions made pertaining to the Kuala Lumpur Structure Plan 2040 (KLSP 2040), in order to improve the ease of doing business in the city.