Increased property development revenue from the progress made by the group's Residensi 22 project in Mont'Kiara, Teega in Puteri Harbour and Aurora Melbourne Central in Australia.
Mah Sing group managing director Tan Sri Leong Hoy Kum said the awards are a testament to the group’s efforts in successfully delivering high-quality properties.
S P Setia attributed the increase in earnings on higher units of residential properties being completed and handed over for Battersea Power Station Phase 1, as compared with lesser units completed in the preceding quarter.
The project known as Vertu Resort is the first high rise urban resort-inspired residential development in Aspen Vision City in Penang.
In line with the retreat at the broader market and possibly due to profit taking by investors after closing at RM1.38 yesterday on talk of a new Bandar Malaysia deal.
Instead of declining, rate of increase will slow, says Rehda.
Eastern & Oriental Bhd shareholders have approved the disposal of a 1.445 million-sq ft plot in the Seri Tanjung Pinang phase 2 project for RM766 million.
Shares of S P Setia Bhd fell 6.91% in morning trade following its announcement to make a cash call to fund its acquisition of I&P Group Sdn Bhd, and mixed views from analysts on the plan.
Hektar Real Estate Investment Trust is actively looking to acquire more assets outside of Klang Valley, to bolster its financial performance.
The construction and building materials sectors are seen to be in vogue in the near future, given the planned rollout of infrastructure development in the country.
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