News by theedgemalaysia.com

OSK Holdings Bhd’s net profit for its fourth quarter of financial year 2023 fell 19.29% to RM97.8 million from RM121.17 million a year earlier, despite higher revenue, as its bottom line was crimped by higher tax expenses and cost of sales, and lower share of profits from its associates and a joint venture (JV).

Property developer Mah Sing Group Bhd said on Tuesday its net profit climbed 38% in the fourth quarter of 2023 from a year earlier, thanks largely to higher margin and lower net finance costs.

“ERL is allowed to impose market-driven fares which will benefit the public, the government and ERL."

Chung said the tax consultant industry had not been properly consulted nor forewarned about the change that came into effect on Monday.

The service tax would be imposed on M&R services starting from Monday (Feb 26).

The interest cost was recorded at RM38.8 million compared with RM34.7 million previously. 

Quarterly revenue, however, was only marginally down by 0.28% at RM1.687 billion, compared with RM1.692 billion in 2QFY2023.

Revenue for the quarter ended Dec 31, 2023 rose 7.86% year-on-year to RM332.65 million from RM308.4 million. 

The land, measuring approximately 13,263.38 sq m, was purchased by MCE in 2014 from Bandar Setia Alam Sdn Bhd.

TH Properties Sdn Bhd and Malaysian Resources Corp Bhd (MRCB), through a 70:30 joint-venture company named 59 Inc Sdn Bhd, officially launched serviced apartment Padang Residences on Monday, according to a press statement.