KUALA LUMPUR (May 27): S P Setia Bhd (KL:SPSETIA) chief operating officer Datuk Zaini Yusoff (pictured) has been reappointed as chairman of the Real Estate and Housing Developers’ Association Malaysia (Rehda) Selangor Branch for the term of 2024-2026. Meanwhile, Datuk Edward Chong Sin Kiat of Shah Alam 2 Sdn Bhd, a subsidiary of IJM Land…
Read MoreKUALA LUMPUR (May 27): Property developer Matrix Concepts Holdings Bhd (KL:MATRIX) said on Monday that its net profit rose 7.16% for the fourth quarter from a year earlier thanks to higher sales and a one-off writeback. Net profit for the three months ended March 31, 2024 (4QFY2024) was RM60.6 million, compared to RM56.56 million recorded…
Read MoreMalaysia has one of the highest urbanisation rates in Southeast Asia. Single housing is becoming increasingly prominent in Malaysia’s real estate market today. This trend has a number of implications that are driving changes to suit the evolving needs of many Malaysians. Developers are building smaller homes to meet the demand of single buyers as…
Read MoreKUALA LUMPUR (May 23): Construction outfit Fajarbaru Builder Group Bhd (KL:FAJAR) saw its net profit jumped more than 14 times to RM27.19 million for the third quarter ended March 31, 2024 (3QFY2024), from RM1.91 million a year earlier, mainly due to higher contribution from property development segment. This is the group’s highest quarterly profit since…
Read MoreKUALA LUMPUR (May 24): Shares of utilities-to-hotels conglomerate YTL Corporation Bhd (KL:YTL) and its related stocks on Friday snapped consecutive days of rally despite notching earnings growth in their third quarter (3QFY2024) financial results. YTL fell as much as 9% while YTL Power International Bhd (KL:YTLPOWR) was down as much as 11.3% during Friday’s trading…
Read MoreKUALA LUMPUR (May 23): YTL Corp Bhd (KL:YTL) posted a 19.8% increase in net profit for its third financial quarter ended March 31, 2023 (3QFY2024), as all of its business segments — construction, cement and building materials, property investment and development, management services and others, hotels, and utilities — reported higher earnings. The quarterly net…
Read MoreKUALA LUMPUR (May 24): Avaland Bhd’s (KL:AVALAND) net profit for the first quarter ended March 31, 2024 (1QFY2024) soared to RM21.17 million, from RM136,000 a year earlier, on the back of advanced construction progress in the group’s ongoing projects, namely Aetas Damansara, Alira Subang Jaya, Casa Embun and Sanderling. In a bourse filing on Thursday,…
Read MoreKUALA LUMPUR (May 23): Axis Real Estate Investment Trust (KL:AXREIT), which mainly manages offices and warehouses, said on Thursday it is acquiring two automotive service centres worth RM125 million. Under the purchase agreements, the trust will then lease the properties back to the seller, Cycle & Carriage Bintang Bhd, Axis said in an exchange filing….
Read MoreKUALA LUMPUR (May 23): KLCCP Stapled Group (KL:KLCC) registered a 4.1% increase in net profit for the first quarter ended March 31, 2024 (1QFY2024) to RM188.03 million from RM180.56 million a year earlier, on the back of steady performance across its business segments. The group — comprising KLCC Property Holdings Bhd (KLCCP) and KLCC Real…
Read MoreKUALA LUMPUR (May 24): The end of the diesel fuel subsidy would not impact UEM Sunrise’s performance and service delivery, the developer assured stakeholders in a media release yesterday. “In light of the recent announcement by the YAB Prime Minister concerning the diesel subsidy rationalisation, UEM Sunrise Bhd understands the concerns from our stakeholders regarding…
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