News by theedgemalaysia.com

Property developer Crescendo Corporation Bhd on Wednesday declared a special dividend as earnings surged to a seven-year high on the back of rising home sales and high margin industrial land disposal.

Gamuda Bhd’s net profit rose 7.29% to RM208.8 million in the second quarter ended Jan 31, 2024 (2QFY2024) from RM194.62 million a year earlier, on the back of higher revenue from its overseas projects.

Malaysia is open to proposals to extend the East Coast Rail Line to the border and integrate it with the Thai rail network or future infrastructure, Transport Minister Anthony Loke said on Wednesday.

The Ministry of Energy Transition and Water Transformation (Petra) has introduced a solar incentive scheme (Solar for Rakyat incentive scheme or Solaris) to encourage installation of solar photovoltaic (PV) systems by domestic users.

OCR Group Bhd has topped out its mixed-development The Mate located in Damansara Jaya, Petaling Jaya with a take-up rate of 80%, according to a press release on Wednesday.

Shares of Glomac Bhd surged to its highest in three years, as investors and analysts bet on better sales and margins ahead, even after the property developer reported weaker-than-expected results.

Malaysian property developer S P Setia Bhd plans to continue cutting its debt as well as sell more unimportant assets and improve its investment properties for a potential real estate investment trust (REIT).

The Holiday Inn Express hotel in the Kuala Lumpur city centre has been put up for sale by its privately owned owner Winbond Group, according to real estate firm Colliers.

Ewein Bhd is acquiring a vacant piece of industrial land in Butterworth for RM25.84 million to develop a workers’ dormitory in a related party transaction.

Glomac Bhd’s net profit jumped by over 800% to RM3.81 million for its third quarter ended Jan 31, 2024 (3QFY2024), from RM419,000 a year earlier, driven by higher revenue from its property development and property investment business.