News by Sangeetha Amarthalingam

Matrix said it is focusing on its development projects in the Bandar Sri Sendayan township in Seremban and Bandar Seri Impian township in Kluang, Johor. The group is also engaged in other development projects in the vicinity of Seremban.

Mercury Industries Bhd rose 8.73% in thin trade this morning after its 70%-owned construction unit Paramount Bounty Sdn Bhd (PBSB) won a mixed development project worth RM238 million in Gombak, Selangor.

Kuala Lumpur Kepong Bhd’s (KLK) net profit declined sharply in its first financial quarter ended Dec 31, 2016 (1QFY17), mainly due to the absence of a one-off gain of RM485.7 million on disposal of plantation land in 1QFY16.

Bina Darulaman Bhd (BDB) saw its net profit rise 61.4% to RM23.27 million or 7.65 sen a share in the fourth quarter ended Dec 31, 2016 (4QFY16) from RM14.41 million or 4.74 sen a share a year ago, due to higher contribution by the property division.

Gadang Holdings Bhd’s net profit rose 57.5% to RM23 million or 10.62 sen per share for the second quarter ended Nov 30, 2016 (2QFY17), from RM18 million or 7.4 sen per share a year ago.

Soft market prompts Singapore developer to reassess joint-venture projects.

Pavilion REIT said 4QFY2016 revenue rose 13.5% to RM117.5 million from RM103.5 million in the previous year because of rental income from two new properties.

The closure would not have any operational impact on the other outlets of the company and its subsidiaries, Only World said in a filing with Bursa Malaysia today.

Malaysian Resources Corp Bhd (MRCB) is disposing of its wholly-owned building and facilities maintenance service unit for RM4.8 million, nearly 16% lower than the price it was acquired in 1982.