News by M

Sime Darby Property Bhd said on Friday (Aug 26) labour shortage presents challenges to the property developer to fully recognise its profit and revenue due to delayed works at its construction sites.

Eco World Development Group Bhd (EcoWorld) and Public Bank Bhd signed a memorandum of understanding (MOU) today to provide green and sustainable development financing.

The construction Rumah Idaman Bukit Jelutong affordable homes took another step forward today with a ground-breaking ceremony.

The Kajang Municipal Council (MPKj) has warned that it “would not hesitate to take action” against property owners who build structures on common areas.

Berjaya Land Bhd (BLand) reported a higher net loss of RM133.44 million in the fourth quarter ended June 30, 2022 (4QFY22) up 5.61% from RM126.34 million a year ago, due to provisions it made to impair the balance proceeds of a mall it sold in China, which it feared it might not be able to collect.

YTL Corp Bhd returned to the black in the fourth quarter ended June 30, 2022 (4QFY22) with a net profit of RM8.68 million, compared with a net loss of RM407.48 million in 4QFY21, on the absence of impairment losses under its property business, while contribution from its utilities business strengthened.

Malaysia Building Society Bhd’s (MBSB) second quarter net profit slipped 64.7% to RM142.3 million, from RM403.4 million a year ago, due to higher operating expenses (opex) and net impairment allowance.

Tropicana Corp Bhd's net loss for the second quarter ended June 30, 2022 (2QFY22) widened to RM61.55 million from RM25.05 million a year ago, due to lower progress billings across key projects in the Klang Valley and southern region as most of its projects were in the early to mid stages of construction.

UEM Sunrise Bhd, which turned a net profit of RM20.7 million in the second quarter ended June 30, 2022 (2QFY22), is cautiously optimistic of achieving its sales target of RM1.5 billion.

Developed via a joint venture (JV) between Permodalan Nasional Bhd (PNB) through its indirect wholly-owned subsidiary MIDF Property Bhd; KWEST Sdn Bhd, a wholly-owned subsidiary of Kumpulan Wang Persaraan (Diperbadankan) (KWAP); and AREA Group of Companies, through their subsidiary AREA Industrial Development Holdings Sdn Bhd, the industrial development is a 220-acre freehold, green certified project with a gross development value of RM1.2 billion.