News by Wong Ee Lin

“I hope that the government will provide some form of incentives like easing lending rules, that will help to boost the local housing market,” said the groups managing director.

In a filing with Bursa Malaysia yesterday, Gamuda said the Housing Development Board of Singapore had accepted the tender by its wholly-owned subsidiary Gamuda (Singapore) Pte Ltd jointly with Evia Real Estate Pte Ltd.

FY19 bottom line performance to top FY18’s — MD

CCM said it has signed an agreement to sell the leasehold land, measuring 73,705 sq m, to Rock Link Sdn Bhd and the deal is expected to be completed by the first quarter of 2019.  

The new project will boost IJM’s outstanding construction order book which currently stands at a near all-time high of RM9.3 billion.

“This is because [1MDB] is an outright robbery, not in the hundreds of millions but tens of billions, a scale the world has not seen before,” said a veteran financial journalist.

At 10:49am today, Bursa Malaysia's top gainer Daiman Development saw 408,600 shares exchanging hands following the privatisation offer from joint offerors Tay Kia Hong & Sons Sdn Bhd and Daiman Holdings Sdn Bhd.

His current position as the group’s managing director will be taken over by deputy managing director Ho Kong Soon.

"Moving forward, we are excited by the next chapter of our growth as we make our mark in Kuala Lumpur with the upcoming launch of our first project in the city, the Chambers Kuala Lumpur serviced apartment with a GDV of RM310.6 million."

In a filing with the local stock exchange today, Tropicana attributed the lower earnings to the fixed general and administrative expenses, which it had to incur despite lower revenue, adding that the group also saw additional staff costs since 2QFY18 in preparation for the commencement of operations at the W Hotel in Kuala Lumpur City Centre.