Sime Darby Property achieved RM3.3 billion in sales in FY2023, surpassing its initial target of RM2.7 billion. PETALING JAYA: Sime Darby Property Bhd (SDP) posted a 27.25% rise in net profit to RM131.26 million in the fourth quarter ended Dec 31, 2023 (Q4 FY2023) from RM103.15 million a year ago on the back of its strong…
Read MoreKUALA LUMPUR (Feb 23): Sime Darby Property Bhd’s net profit for the fourth quarter ended Dec 31, 2023 (4QFY2023) rose 27.25% to RM131.26 million from RM103.15 million a year earlier, thanks to strong top line contributions and higher profit from the property development segment. Quarterly revenue increased 5.83% to RM1.01 billion from RM956.9 million a…
Read MoreKUALA LUMPUR (Feb 22): Infrastructure and construction company Ekovest Bhd is disposing of 13 parcels of land measuring a total of 12,400.139 sq m in Section 85 along Jalan Pahang here to Airman Sdn Bhd, a wholly-owned subsidiary of Lim Seong Hai Holdings Sdn Bhd (LSHHSB), for RM66.8 million. The proposed disposal is deemed a…
Read MoreKUALA LUMPUR (Feb 23): Sime Darby Property Bhd (SDP), whose share price jumped to a four-year high following its FY2023 earnings released earlier on Friday, said the weakening of the ringgit could impact its profit margins due to higher costs of raw materials. SDP managing director Datuk Azmir Merican (pictured) said construction costs are vulnerable…
Read MoreKUALA LUMPUR (Feb 22): The Sessions Court has allowed Hydroshoppe Sdn Bhd director Datuk Abdul Hamid Shaikh Abdul Razak Shaikh’s passport to be returned temporarily for him to attend work-related engagements in the US and Germany. Sessions Court judge Suzana Hussin ordered for the passport to be returned from Thursday to March 20, and for…
Read MoreKUALA LUMPUR (Feb 21): Kuala Lumpur Kepong Bhd has redesignated its chief executive officer Tan Sri Lee Oi Hian (pictured) as its executive chairman, following the retirement of Tun Raja Muhammad Alias Raja Muhammad Ali as the group’s non-executive chairman on Wednesday. Lee is also the chairman of KLK’s controlling company, Batu Kawan Bhd. The…
Read MoreKUALA LUMPUR (Feb 21): Co-labs Coworking is eyeing to double its total space under management to 300,000 sq ft across Malaysia in the next two years, its director Benjamin Teo told the press at the official launch of the seventh Co-labs Coworking space at The Five in Damansara Heights, Kuala Lumpur, on Wednesday. Co-labs Coworking…
Read MoreKUALA LUMPUR (Feb 21): A consortium between Citaglobal Bhd and Reneuco Bhd has secured a 30-year concession to supply electricity to the East Coast Rail Link (ECRL) from project owner Malaysia Rail Link Sdn Bhd (MRL). The concession includes the development of power transmission and interconnection facilities valued at RM600 million, which is expected to…
Read MoreKUALA LUMPUR (Feb 22): IPC Shopping Centre in Mutiara Damansara, Petaling Jaya, Selangor, has unveiled its new anchor tenant, MR DIY Plus, as well as a line-up of additional food and beverage (F&B) offerings that are expected to be opened this year, according to its operator Ikano Corp Sdn Bhd in a press statement on…
Read MoreKUALA LUMPUR (Feb 22): Property developer Eastern & Oriental Bhd (E&O) has reported a 14.47% growth in its third quarter net profit, thanks to higher contributions from its property and hospitality segment, as well as higher unrealised foreign exchange gains. Net profit for the quarter ended Dec 31, 2023 (3QFY2024) rose to RM34.44 million or…
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