Its wholly-owned unit Pasdec Corp Sdn Bhd has entered into a JV agreement with a special purpose vehicle called Sedimi Property Development Sdn Bhd to develop the 238 pieces of vacant leasehold plots with a total area of 60,049 square metres.
Net property income fell to RM3.88 million in 2QFY23, from RM4.7 million a year ago, while net income declined 93% to RM108,000 from RM1.53 million amid higher interest expense.
The IMTN programme comes together with an Islamic commercial papers programme, which together have a combined aggregate limit of up to RM4 billion in nominal value, based on the shariah principle of murabahah via tawarruq arrangement.
Earnings per share rose to 3.29 sen from 1.2 sen.
Following the termination, Zecon will be buying back the project from PR1MA for RM63.56 million, which includes the land cost.
Quarterly revenue increased by 18.34% to RM186.73 million compared to RM157.8 million.
“The company wishes to announce that AZSB has received notification from the petitioner (EPB) that the petition has been struck off with liberty to file afresh.”
The property developer has been loss-making since 1QFY2022.
... after the pair mutually agreed that AZSB would settle an RM11.05 million outstanding sum by way of 11 monthly instalments.
Perak Transit accepted the extended agreement to provide the same scope of services to Touch Matrix Sdn Bhd via its wholly-owned PTrans Resources Sdn Bhd.
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