News by theedgemalaysia.com

Sime Darby Property Bhd (SDP) sees 2023 to be a challenging year for the property industry due to rising raw material prices and the recent hike in the overnight policy rate (OPR) to 3%.

YTL Corp Bhd’s net profit was flat at RM414.14 million in the third quarter ended March 31, 2023 (3QFY2023) from RM414.61 million a year before.

YNH Property Bhd’s land deal with Sunway Group Bhd seems to have hit a stumbling block as Bursa Securities has raised more questions on the transaction.

Malaysia Building Society Bhd (MBSB) saw its net profit increase by 27.3% to RM74.13 million or 1.03 sen per share in the first quarter ended March 31, 2023 (1QFY23), from RM58.21 million or 0.81 sen per share a year ago, mainly due to lower expected credit losses and lower operating expenditure.

Berjaya Land Bhd (BLand) posted a net profit of RM4.05 million in the third quarter ended March 31, 2023 (3QFY2023), versus a net loss of RM7.44 million a year earlier, on the back of higher revenue.

Sime Darby Property Bhd has announced its proposed acquisition of three parcels of freehold land totalling 948.8 acres in Kapar, Klang for RM618 million, which has been approved by shareholders at its extraordinary general meeting (EGM) on Wednesday (May 24).

MCT Bhd returned to profitability in the first quarter ended March 31, 2023 (1QFY2023) with net profit RM136,000, versus net loss RM12.19 million a year earlier, on the back of higher property sales.

Sime Darby Property Bhd’s net profit for the first quarter ended March 31, 2023 (1QFY2023) rose 17% to RM60.67 million from RM51.84 million previously, mainly contributed by its property development segment.

Construction firm Kerjaya Prospek Group Bhd anticipates that its profit margins will remain steady in the current year  in comparison to the previous year, because of lower building material costs and a selective approach to which jobs the company tenders for.

Higher contributions from property investment and healthcare segments lifted Sunway Bhd’s first quarter net profit by 3.76% to RM141.64 million from RM136.51 million a year ago. This more than offset the lower profit contributions from the other business segments, the group said.