News by M

Compared to the preceding quarter, the group’s net profit increased 49.3% from RM6.13 million. 

Its quarterly revenue, however, increased slightly by 3.68% to RM1.07 billion from RM1.03 billion. 

Quarterly revenue fell 42% to RM826.27 million, from RM1.42 billion last year, mainly contributed by its UK and Egypt operations (RM406 million), US and Bahamas operations (RM364.2 million) and Malaysia operations (RM17.7 million).

Also contributing to the weaker quarter was its share of losses from joint ventures and associates, in particular from the Meizhou Wan power plant in China. 

Currently most of the cloud kitchen operators are in the Klang Valley, consultant seeing the operators are planning to expand into other cities like Johor Bahru and Penang.

In line with our new direction, we will be stopping the EdgeProp Malaysia’s weekly – you are now reading its final edition. Rest assured however, that in the days ahead, our portal – www.edgeprop.my – will be an even more compelling destination for everything property, one that anyone who has an interest in real estate could not afford to ignore.

According to the findings by Knight Frank Malaysia, the rental of workers’ accommodation could be as low as RM155 per bed a month, up to RM300 per bed a month, depending on the service packages (including utilities, transportation, food caterings and periodic health screenings), location of PBWA and adherence to local or international standards.

Since the amendment of Act 446 came under en­forcement last year, there is a surge of demand on workers’ dormitories that fit the requirements. However, the main problem is there is not enough supply to meet the demand as the busi­ness owners did not expect the Act to be enforced on such short notice.

Selling it was always an easier option than restoring the building. But bringing back the beauty of the building and leaving a part of history for Penangites and our children was a quest worth going into. We wanted to bring back the former glory of this stately build­ing,” said Datuk Ooi Sian Hian.

This lowered its earnings per share to 6.21 sen from nine sen previously, according to the Seremban-based property developer’s filing with the local bourse on Thursday (Nov 25).