The call comes after the PAC urged the government to overhaul Kuala Lumpur’s land development system, citing serious issues including unchecked approvals, ignored public objections, and the sale of public land below market value.
Parcel C comprises 49 shoplots with built-up sizes ranging from 2,908 to 3,706 sq ft and priced between RM2.09 million and RM3.87 million.
Net profit for the three months ended June 30, 2025 (2QFY2025) was RM91.71 million, or 3.5 sen per share.
The property developer made a net profit of RM45.4 million for 1QFY2026, compared with RM37.5 million for the quarter a year ago.
Such a move would dampen the capital city’s gross domestic product heavily dependent on the construction and property-related services sectors, she said.
The net profit for the quarter ended June 30, 2025 (4QFY2025), was RM31.23 million, compared with RM1.38 million a year ago.
The purchase came less than two weeks after a Bayan Resources executive also joined as the company’s second-largest shareholder through the placement.
It made a net profit of RM54.44 million for its 2QFY2025, up 46.8% from RM37.08 million in 2QFY2024.
The project entails the construction of a four-lane dual carriageway measuring 14.7km in Limbang.
Net profit for the quarter jumped more than fivefold to RM21.75 million from RM4.16 million a year earlier.
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