News by theedgemalaysia.com

NCT Alliance Bhd (NCT) posted a net profit of RM9.3 million in its second quarter ended June 30, 2023, on the back of a 20% increase in revenue to RM58.4 million.

MBSB Bank Bhd is suing Country Heights Holdings Bhd, following its default on the payment of Islamic term financing facilities totalling RM89.67 million, to recover the sum owed.

Magna Prima Bhd is acquiring the remaining 30% stake in Magna Ecocity Sdn Bhd for a cash consideration of RM45.58 million.

Chin Hin Group Property Bhd saw its net profit risen 91 times to RM5.83 million in the second quarter ended June 30, 2023 (2QFY2023), from RM64,000 a year ago, due mainly to higher work progress of the construction projects.

SkyWorld Development Bhd’s SkySierra Residences received 86% in Quality Assessment System in Construction (QLASSIC) score and 92.63% Safety and Health Assessment in Construction (SHASSIC) score for its high-rise residential development in Setiawangsa, Kuala Lumpur. It is also the highest score the company has received to date.

Quarterly revenue slipped 5.7% to RM1.03 billion from RM1.1 billion last year after its retail business' topline decreased, mainly due to pent-up spending for the festivities in the corresponding quarter in FY2022.

Comprising residential and retail components, 168 Park Selayang is a white knight development project located along Jalan Kuching in Selayang.

Earnings per share was 5.16 sen versus 3.76 sen previously. 

This is the second issuance under the sukuk programme.

Quarterly revenue declined by 8.52% to RM375.39 million, from RM410.37 million a year earlier.