News by theedgemalaysia.com

Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM54.5 million contract to undertake the construction of 186 terrace houses in Rawang, Selangor.

The Federal Court’s latest ruling on Friday, that the Ang Ming Lee decision should be applied prospectively, is fair and balanced, said senior lawyer Leonard Yeoh, who is familiar with matters related to housing and developers.

On Nov 26, 2019, the Federal Court, which is Malaysia’s apex court, delivered a judgement to declare Regulation 11(3) of the Housing Development (Control and Licensing) Regulations 1989 as void in Ang Ming Lee & Ors vs Menteri Kesejahteraan Bandar, Perumahan dan Kerajaan Tempatan & Anor and other appeals (AML).

The Real Estate and Housing Developers’ Association (Rehda) Malaysia welcomed the Federal Court’s ruling on the cases involving Prema Bonanza Sdn Bhd and Sri Damansara Sdn Bhd on Friday, which removed the uncertainties in the determination of the delivery period of properties

The Federal Court on Friday unanimously decided that the Ang Ming Lee decision made by the apex court in 2020, which has been bugging housing developers over the years despite gaining extension of time (EOT) prior to that landmark ruling, is applicable prospectively and not retrospectively.

Phillip Capital has maintained its 'buy' rating for Kerjaya Prospek Group Bhd (KL:KERJAYA) at RM2.03, with a higher target price of RM2.60 (from RM2), and expects continued robust contract replenishment from Eastern & Oriental Bhd (KL:E&O) and Kerjaya Prospek Property Bhd (KL:KPPROP), with the company actively bidding for RM3 billion worth of data centre and semiconductor related jobs.

RHB Retail Research said Eversendai Corp Bhd (KL:SENDAI) is attempting to resume the upside movement, testing the immediate resistance.

JAKS Resources Bhd (KL:JAKS) said it has signed a memorandum of understanding (MOU) with a subsidiary of TDM Bhd (KL:TDM) to collaborate on a land lease as part of its bid for the fifth Large Scale Solar (LSS5) programme.

IGB Real Estate Investment Trust’s (KL:IGBREIT) net property income (NPI) for the second quarter ended June 30, 2024 (2QFY2024) rose 6.5% to RM109.48 million from RM102.79 million a year ago, due to higher rental income.

KIP Real Estate Investment Trust (KL:KIPREIT) said on Thursday its net property income surged 62.8% in the final quarter of 2024 earlier, thanks to strong gain of retail properties in the northern and central regions.