News by M

The Practice Note 17 (PN17) company Perak Corp Bhd has narrowed its net loss for the first quarter ended March 31, 2022 (1QFY22) to RM1.2 million from RM6.29 million a year ago, due to profit from the sale of land by a former subsidiary under its property development segment.

Noteworthy:

• Freehold

• Built-up: 4,200 sq ft

• Land area: 3,305 sq ft 

• Semi-furnished

• Amenities: Close proximity to educational institutions, supermarkets and Shah Alam stadium

• Accessibility: Federal Highway, New Klang Valley Expressway (NKVE), Guthrie Corridor Highway, Shah Alam Highway (KESAS) and Jalan Lapangan Terbang Subang, and close to Batu Tiga KTM station

When: March 2022

Sime Darby Property Bhd's net profit declined by 21.51% to RM51.84 million for the first quarter ended March 31, 2022 (1QFY22) from RM66.04 million in the same quarter last year.

A Bursa Malaysia filing on Tuesday (May 24) showed that quarterly revenue slid by 4.07% to RM10.57 billion compared to RM11.02 billion a year prior.

In a filing with Bursa Malaysia on Monday (May 23), the group said its wholly-owned subsidiary SCIB Properties Sdn Bhd has accepted a letter of award and acceptance for the engineering, procurement, construction and commissioning contract.

"The proposed acquisition is in line with the group’s business expansion objective and growth strategy in accumulating new suitable land to be included in the group’s landbank and to scale up its property development portfolio to generate additional streams of income for the group moving forward," said EUPE.

Revenue came in at RM867.1 million, 17.64% less than the RM1.05 billion it recorded in 1QFY21, its bourse filing showed.

According to Kuala Lumpur City Hall (DBKL) in a statement on Monday (May 23), this is due to the incident where a double-storey house was destroyed after a retaining wall at the project site shifted on Sunday (May 22). Additionally, DBKL also mentioned that the Fire and Rescue Department had ordered the occupants of six nearby houses to evacuate.

SkyWorld Development Group Sdn Bhd unveiled the country's highest residential skybridge in SkyAwani 3 Residences on May 20. According to the developer, the skybridge measures 550m long and is located across three interconnected towers on level 52. This allows residents to enjoy unobstructed views of the Kuala Lumpur city centre skyline.

The collaboration was marked by a signing of a Memorandum of Understanding (MoU) on April 27 by Hartamas Real Estate Group founder & managing director Eric Lim and EdgeProp Malaysia managing director Alvin Ong.