KUALA LUMPUR (Nov 22): MIDF Research has maintained its “buy” rating on Matrix Concepts Holdings Bhd at RM1.60 with an unchanged target price of RM1.86 and said it expects the developer’s 2QFY2024 earnings to be stronger on a yearly basis, due to a pick-up in construction progress at its project sites. In a note on…
Read MoreKUALA LUMPUR (Nov 21): Kerjaya Prospek Group Bhd recorded a net profit of RM35.57 million for the third quarter ended Sept 30, 2023 (3QFY2023), up 23.5% from RM28.81 million for the same quarter a year ago, mainly due to improved progress of construction work activities. The builder declared an interim dividend of two sen, with…
Read MoreKUALA LUMPUR (Nov 21): Ecobuilt Holdings Bhd said it is not proceeding with its plan to build a 24-storey police office building in Kuala Lumpur jointly with another company, after it was unable to comply with the terms of the deal within the stipulated period. In a filing on Monday, Ecobuilt said its wholly-owned subsidiary…
Read MoreBy Sharika Tasnim In recent years, Malaysia has experienced a significant surge in its population, presenting both opportunities and challenges for the nation. According to the Malaysian Department of Statistics (DoSM), the estimated total population of Malaysia in 2023 is 33.4 million, compared to 32.7 million in 2022. This rapid population growth has not only…
Read MoreKUALA LUMPUR (Nov 21): Kerjaya Prospek Group Bhd’s RM404.35 million job from BCM Holdings Sdn Bhd — a subsidiary of EcoFirst Consolidated Bhd — to build a main residential building has fallen through after BCM decided not to proceed with the contract previously agreed upon between both parties. In a brief announcement on Bursa Malaysia…
Read MoreKUALA LUMPUR (Nov 21): Hospitality group Shangri-La Hotels (Malaysia) Bhd’s net profit surged 157.7% to RM15.62 million in the third quarter ended Sept 30, 2023 (3QFY2023) from RM6.06 million a year earlier, on improved level of leisure demand and hotel occupancy rate. As a result, earnings per share for 3QFY2023 came in higher at 3.55…
Read MoreKUALA LUMPUR (Nov 16): Sunway Real Estate Investment Trust’s (Sunway REIT) net property income (NPI) increased by 6.6% to RM136.75 million for the third quarter ended Sept 30, 2023 (3QFY2023), from RM128.24 million a year earlier in line with higher revenue driven by sharp increase in hotel segment’s earnings. Furthermore, strong performance in both the…
Read MoreKUALA LUMPUR (Nov 17): Desa ParkCity has emerged the inaugural winner of Malaysia’s Most Outstanding Sustainable Township Award as well as the Green Development Award at the recent Malaysia Urban Planning Awards 2023 (MUPA 2023) organised by the Town and Planning Department (PLANMalaysia). MUPA 2023 is held to acknowledge developers who establish eco-friendly environments that…
Read MoreKUALA LUMPUR (Nov 17): Berjaya Construction Bhd, the construction arm of Berjaya Land Bhd (BLand), has secured a US$50 million (RM234.2 million) construction loan from Export-Import Bank of Malaysia Bhd (Exim Bank) for the construction of the Four Seasons Resort and Private Residences Okinawa (Four Seasons Okinawa) in Japan. Leading the signing was Seikou Okinawa…
Read MoreKUALA LUMPUR (Nov 17): BMI, a Fitch Solutions company, expects Bank Negara Malaysia (BNM) to hold its overnight policy rate (OPR) at 3% through the end of 2024. It noted that the central bank had on Nov 2, for the third consecutive meeting, left the OPR unchanged, which was in line with expectations. “We continue…
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