News by JUSTIN LIM

Profit before tax of its property development segment dropped 47.9% to RM37 million in 2QFY2023, from RM71.07 million a year ago as revenue for the segment fell 31.4% to RM159.98 million, from RM233.08 million previously. 

Property developer GuocoLand (Malaysia) Bhd’s net profit fell 33.6% to RM15.8 million or 2.36 sen per share in its fourth quarter ended June 30, 2023 (4QFY2023) from RM23.79 million or 3.55 sen per share a year earlier, mainly due to lower contribution from its property development division.

Plenitude Bhd, which owns 10 hospitality assets, is acquiring its second hotel in South Korea for 32 billion won (RM114.3 million), in a bid to expand its footprint there.

LFE Corp Bhd's unit signed a deal on Wednesday (Aug 16) to jointly develop a housing project on 175 hecatres land in Gurun, Kedah.

Lee is the group chairman of HYM Group, which owns and operates WOLO Kuala Lumpur and Gold3 Boutique Hotel in Jalan Bukit Bintang here.

Practice Note 17 (PN17) company Top Builders Capital Bhd said on Thursday (Aug 10) that its external auditor, Kreston John & Gan, has resigned on a volunary basis.

Berjaya Land Bhd (BLand) has appointed Abang Abdillah Izzarim Abang Abdul Rahman Zohari as an independent and non-executive director, effective Thursday (Aug 10).

MK Land Holdings Bhd said its wholly-owned subsidiary Solar Citra Sdn Bhd (SCSB) has been selected to be a solar power producer under the Corporate Green Power Programme (CGPP).

Thirty months after acquiring a 51% stake in the developer of  Nexus Residence in USJ Subang West, Majuperak Holdings Bhd has decided to sell back the stake after the vendor failed to achieve the required 50% sale of the units in the project.

AME Real Estate Investment Trust (REIT) is aiming for 100% renewal of its 12 leases expiring in the financial year ending March 31, 2024 (FY2024) to reinforce the industrial REIT’s future earnings.