Kuala Lumpur Kepong Bhd (KL:KLK) reported a record low net profit for its fourth quarter, dragged by non-cash losses and an inventory write-down related to its investment in UK-listed speciality chemicals company, Synthomer Plc.
Property developer Eastern & Oriental Bhd (KL:E&O) said on Tuesday that it had yet to see notable impact from the revamped Malaysia My Second Home (MM2H) programme on its sales.
With JRL having a substantial order book of £1.5 billion (RM8.5 billion), and expertise in rail-adjacent and over-railway development, the acquisition is expected to bolster IJM’s foothold in the UK and contribute to the diversification of its revenue streams.
Matrix said that during the quarter under review, it recorded a gain on disposal of property, plant, and equipment, as well as investment property amounting to RM11.5 million.
The properties include Dudley International House, an eight-floor student dormitory at 51 Queen Street, and 333 Exhibition Street in Melbourne, purchased in 2013.
The offer was rejected and the state-owned development agency did not provide a reason.
The petition, initiated in late August, sought an unpaid sum of RM184,438.80, alongside statutory interest of 5% per annum from March 1, 2024 and costs of RM3,000.
The higher interest expense follows the completion of IOI Central Boulevard Towers in April 2024.
The project in Bandar Baru Permas Jaya spans two phases, comprising 184 units of double-storey cluster houses, 12 units of double-storey semi-detached houses, and two double-storey bungalow houses.
Net profit for the quarter ended Sept 30, 2024 (3QFY2024) dropped to RM2.01 million from RM3.76 million previously.
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