News by John Lai

Malaysian property developers are optimistic that demand will pick up in the second half of the year, while staying cautious about rising costs of doing business ahead, according to an industry survey.

The seven-storey shopping mall covers an approximate area of 92,712 sq ft, including a lower ground floor and four levels of basement car park with 786 car park bays.

Malaysian Resources Corporation Bhd’s (KL:MRCB) wholly-owned subsidiary Setia Utama LRT 3 Sdn Bhd has won a reinstatement works contract from Prasarana Malaysia Bhd worth RM2.47 billion that spans 48 months.

Citaglobal Bhd’s (KL:CITAGLB) net profit jumped five times to RM6.73 million in its fourth quarter ended Dec 31, 2024 (4QFY2024) from RM1.22 million, driven by strong contributions from the civil engineering & construction (CEC), property and manufacturing segments.

Chin Hin Group Property Bhd (KL:CHGP) is planning a bonus share issue, its first in nearly two decades, despite a sharp drop in net profit in the final quarter of 2024.

Systech said the high-tech infrastructures include technology parks, data centres, hydrogen energy, and artificial intelligence (AI) solutions.

GDB said an adjudicator ruled that KSK Land’s unit Damai City Sdn Bhd (DCSB) has to pay GDB's unit Grand Dynamic Builders Sdn Bhd (GDBSB) a total of RM82.67 million, pursuant to GDB’s notice of adjudication on Oct 4, 2024.

The brothers, via private entity Enrich Signature Sdn Bhd, bought 10 million shares in KSSC last Friday (Feb 14) at 83 sen per share — a 10.7% premium over KSSC’s net tangible asset per share of 75 sen — for RM8.3 million.

Property developer Thriven Global Bhd (KL:THRIVEN) said Setiakon Builders Sdn Bhd has initiated arbitration proceedings against its wholly owned subsidiary Mayfair Ventures Sdn Bhd over what Setiakon claimed were unpaid dues for completed work.

CapitaLand Malaysia Trust (KL:CLMT) is buying three industrial properties located in Senai Airport City for RM72 million from Gromutual Bhd’s subsidiary Rainbow Entity Sdn Bhd.