News by M

Mah Sing Group Bhd has revised its sales target for the year to RM2.3 billion from RM3.4 billion and has also scaled back its launches to RM2 billion from RMM3.4 billion amid a softer market.

Retail part of integrated development expected to attract out of state and Thai clientele.

In the review period, transactions of non-landed residences in the secondary market have yet to breach the RM1,000 psf level, although this will likely change once Tropicana Gardens is completed, as primary prices there have exceeded that threshold.

RHB Research Institute says slowing growth in the second half of the year could be supported by mega infrastructure projects such as the Mass Rapid Transit (MRT) line extension. 

The 1HFY15 core net profit represents 65% and 58% of our and consensus estimates. The operating result was beyond expectations, with estimated earnings before interest and taxes at 76% of our full-year forecast.

Revenue for 1QFY15, however, declined 46.9% to RM68.89 million from RM129.74 million for 1QFY14, the property developer’s filing with Bursa Malaysia showed yesterday.

Based on theedgeproperty.com’s analysis of transactions in the 12 months to 3Q2014, the average transacted price per square foot (psf) was RM539 in 3Q2014, while the average transacted price per unit was RM661,000.

According to a source familiar with the plan, the redevelopment of the new air force base for the Royal Malaysian Air Force in Butterworth, Penang, which has been in the works since early last year, may be scrapped altogether.

The Tropicana address has long been associated with exclusivity. Most homes there are luxury bungalows, but new developments are mostly condominiums as land is now scarce and expensive.

​Attention all readers with budding green fingers: red worms are probably your best friends.