News by M

Construction outfit Pesona Metro Holdings Bhd has received a takeover offer from major shareholder Wie Hock Kiong to acquire 278.03 million shares or a 40.01% stake in the group at a price of 19 sen per share or RM52.83 million cash in the event of full acceptance of the offer.

NCT executive chairman and group managing director Datuk Seri Yap Ngan Choy said the strong performance was mainly due to the resumption of economic activities and the reopening of national borders.

Noteworthy:

• Freehold
• Land size: 9,225 sq ft
• Built-up size: 4,500 sq ft
• 6 bedrooms, 7 bathrooms
• Unfurnished 
• Nearby amenities: Hotels, convenience stores, F&B outlets, Damansara City Mall, 1 Mont Kiara, MRT Semantan, 
• Accessibility : EKVE highway, Federal highway, DASH highway

When: November 2022

Real Estate and Housing Developers’ Association Malaysia (Rehda) has expressed its “wish” that the government under newly appointed 10th Prime Minister Datuk Seri Anwar Ibrahim take measures to tackle the many issues afflicting the property and construction industry.

YNH Property Bhd’s net profit slumped 97.07% to RM43,000 for the third quarter ended Sept 30, 2022 (3QFY2022), from RM1.47 million for the same quarter last year, amid completion of the K163 development here.

WCT Holdings Bhd posted a net profit of RM12.49 million for the third quarter ended Sept 30, 2022 (3QFY2022), versus a net loss of RM35.23 million a year ago, as revenue rose on lower cost of sales, administrative expenses and finance costs.

Tiong Nam Logistics Holdings Bhd posted a more than five-fold rise in net profit to RM1.65 million for its second quarter ended Sept 30, 2022 (2QFY2023), from RM254,000 a year earlier, on the back of a higher revenue for its logistics and warehousing services segment.

UOA Development Bhd’s net profit and revenue jumped almost three times year-on-year for the third quarter ended Sept 30, 2022 (3QFY2022) on progressive recognition of the property developer’s ongoing project.

The improved revenue performance was mainly contributed by Monet Garden at Sunsuria City township as well as from the group’s on-going projects; Sunsuria Forum (Phase 2), an integrated residential and commercial development at Setia Alam; Tangerine Suites at Sunsuria City township, and Bangsar Hill Park (Block A, D, and E).