News by theedgemalaysia.com

Datuk Tengku Ibrahim Farihaddin Datuk Tengku Feissal has stepped down from the position of independent and non-executive chairman of the construction group Kumpulan Jetson Bhd, less than two months after his appointment to the position.

Al-Aqar Healthcare Real Estate Investment Trust’s (Al-Aqar REIT) net income for the third quarter fell marginally to RM17.59 million from RM17.62 million in the same period last year, on lower net rental from its Australia segment due to higher professional fees.

YTL Corp Bhd posted its best quarterly net profit since 2006 at RM521.7 million in the quarter ended Sept 30 (1QFY2024), as all business segments' contributions grew save for construction.

Think City and Yayasan Hasanah, the impact-based foundation of Khazanah Nasional Bhd, co-hosted Mike Rands, a distinguished environment scientist, conservationist and ornithologist (a bird expert), who spoke about how urban green spaces play an important role in a country's economy.

Builder-cum-property developer WCT Holdings Bhd has gone back to the red in the third quarter ended Sept 30, 2023 (3QFY2023) with a net loss of RM13.54 million despite stronger revenue compared to a net profit of RM12.49 million a year ago, due to absence of positive one-off items recognised in the previous corresponding quarter — including a land disposal gain.

Lembaga Tabung Haji (LTH) has emerged as a substantial shareholder of Seremban-based property developer Matrix Concepts Holdings Bhd with a 5% stake.

Kerjaya Prospek Bhd is demanding RM20 million in termination damages from BCM Holdings Sdn Bhd, a subsidiary of Ecofirst Consolidated Bhd, after BCM suddenly decided not to proceed with the RM404.35 million residential project it awarded to the group in June this year.

Kerjaya Prospek Property Bhd (KPProp), which reported a net profit of RM22.8 million for its second quarter ended Sept 30, 2023 (2QFY2024) — little changed from a year ago — is looking for new strategic plots to increase its land bank, especially in the Klang Valley, to ensure a steady pipeline of future development projects, according to executive chairman Datin Toh Siew Chuon.

Matrix Concepts Holdings Bhd's net profit grew 27% for the second quarter ended Sept 30, 2023 (2QFY2024) fuelled by improved construction activities as labour shortage issues dissipate.

Hektar Asset Management Sdn Bhd, the manager of Hektar Real Estate Investment Trust (Hektar REIT), reported that it has achieved an 87.7% occupancy rate for its retail asset portfolio in 3Q2023, with Mahkota Parade, Melaka and Wetex Parade, Johor having reached 93%, while Kulim Central, Kedah achieving almost 98%.