KUALA LUMPUR (May 31): Hong Leong Investment Bank (HLIB) Research has maintained its ‘buy’ rating for OSK Holdings Bhd (KL:OSK) at RM1.66, with a higher target price of RM2.21 (from RM2.16), and said OSK’s first-quarter core profit after tax and minority interest of RM122.8 million (+26.7% quarter-on-quarter; +6.4% year-on-year) was within house expectations, making up…
Read MoreKUALA LUMPUR (May 29): IJM Corp Bhd’s (KL:IJM) net profit for the fourth quarter ended March 31, 2024 (4QFY2024) leapt over 10-fold to RM305.5 million from RM23.1 million a year earlier, thanks to a sharp rise in other operating income. The construction giant’s other operating income soared to RM241.79 million from RM71 million in the…
Read MoreKUALA LUMPUR (May 30): OSK Holdings Bhd’s (KL:OSK) net profit for the first quarter ended March 31, 2024 (1QFY2024) rose 10% to RM122.93 million from RM115.09 million, on the back of a 10% rise in revenue to RM367.94 million, versus RM333.20 million. In a bourse filing on Thursday, OSK said the property, financial services, industries…
Read MoreKUALA LUMPUR (May 30): Real estate is becoming a new global currency amidst a predicted post-pandemic stagflation, said Juwai IQI chief economist Shan Saeed. “Production cuts are happening, we have geopolitical risks, supply constraints, and China is coming back into the market. Overall, investors are going back to basics with tangible assets like real estate,…
Read MoreKUALA LUMPUR (May 29): IQI’s journey with EdgeProp began in 2022 when both inked their first MoU to collaborate via brand-building tools and marketing solution. The partnership has so far been a win-win for both parties and it is with this in mind that it is carried on with vigour. A second MoU/strategic partnership was…
Read MoreKUALA LUMPUR (May 30): The Ministry of Investment, Trade and Industry (Miti) said it had secured a commitment by Google to invest US$2 billion (RM9.4 billion) to house the first Google data centre and Google Cloud region in Malaysia. The site will be located at Sime Darby Property Bhd’s (KL:SIMEPROP) Elmina Business Park, in Greater…
Read MoreKUALA LUMPUR (May 29): Vizione Holdings Bhd (KL:VIZIONE) has bagged a RM250 million contract to construct apartments in Semenyih, Selangor, in a related-party transaction. In a bourse filing, Vizione said the project comprises two 15-storey blocks and three 18-storey blocks. The group said its unit Vizione Builder Sdn Bhd accepted the letter award from a…
Read MoreKUALA LUMPUR (May 28): Kerjaya Prospek Property Bhd (KL:KPPROP) plans to launch two new residential projects in the Klang Valley with a combined gross development value (GDV) of RM395 million this year. The first project located in Sentul comprises 587 units of serviced apartments in a 52-storey block, while the second one in Shah Alam…
Read MoreKUALA LUMPUR (May 28): All 122 units of Sime Darby Property Bhd’s (KL:SIMEPROP) Elmina Ridge 1 (phase one) residential development in the City of Elmina, Shah Alam has been fully taken up. The entire Elmina Ridge 1 development comprises 228 units of superlink, cluster and semi-detached homes with a total gross development value (GDV) of…
Read MoreKUALA LUMPUR (May 28): Real estate developer IGB Bhd (KL:IGBB) said its net profit more than tripled for the first quarter from a year earlier, thanks largely to land disposal gains. Net profit for the three months ended on March 31, 2024 (1QFY2024) was RM185.34 million, compared to RM56.07 million in the same period last…
Read More
