KUALA LUMPUR (Feb 29): Selangor state-controlled Kumpulan Perangsang Selangor Bhd (KPS) is disposing of Plaza Perangsang in Shah Alam, a 36-year old building which the group occupies as its main office, for RM46 million to Perbadanan Kemajuan Negeri Selangor (PKNS). PKNS is a substantial shareholder of KPS with a 5.52% stake, according to Bloomberg. KPS…
Read MoreKUALA LUMPUR (Feb 29): Property developer Tropicana Corp Bhd is acquiring a piece of leasehold land in Kota Damansara for RM224 million to be developed into a residential area comprising four to five tower blocks of serviced apartments, with an estimated gross development value of about RM2.8 billion. The land, measuring 7.79 acres, is situated…
Read MoreKerjaya Prospek Group has declared a fourth interim single-tier dividend of 2 sen per share for the financial year ended Dec 31, 2023, payable on April 5, 2024. PETALING JAYA: Kerjaya Prospek Group Bhd remained optimistic about the construction industry’s post-Covid-19 pandemic growth, despite facing challenges such as increased raw material prices. Non-independent non-executive chairman…
Read MoreHong Kong’s new housing market surged with 28 transactions, up from last week’s average of four to five units. (AP pic) HONG KONG: Hong Kong’s property market immediately celebrated the removal of decade-long curbs with a jump in transactions, property agents said on Thursday, as authorities made a concerted bid to boost the city’s depressed…
Read MoreKUALA LUMPUR (Feb 28): Eversendai Corporation Bhd said it returned to profitability in the fourth quarter ended Dec 31, 2023 (4QFY2023), thanks to the progress of its projects in the Middle East and increased utilisation rates of its fabrication facilities. The group registered a net profit of RM57.85 million, compared to a net loss of…
Read MoreKUALA LUMPUR (Feb 28): Southern Score Builders Bhd, formerly known as G Neptune Bhd, has won a contract amounting to RM618.24 million to construct two blocks of apartment suites in Setapak, Kuala Lumpur. The contract was awarded by property developer Platinum Victory Development Sdn Bhd, said Southern Score in a bourse filing on Wednesday. The…
Read MoreKUALA LUMPUR (Feb 29): Phillip Capital has maintained its “buy” rating on AME Elite Consortium Bhd at RM1.67 with a higher target price (TP) of RM2 (from RM1.96), saying the company’s 9MFY2024 results exceeded both house and consensus estimates. In a note on Thursday, the research house said AME Elite’s stronger earnings were driven by…
Read MoreKUALA LUMPUR (Feb 29): Construction firm Kerjaya Prospek Group Bhd’s net profit margin will likely improve in coming quarters on lower tax and potential writeback in provisions, said its chairman on Thursday. Net profit margin for the fourth quarter ended Dec 31, 2023 (4QFY2023) came in at 7.3% from 10% over the same period a…
Read MoreKUALA LUMPUR (Feb 29): The real estate market is expected to continue to exhibit resilience, with certain segments to demonstrate sustainable growth, global commercial real estate and investment management company JLL said. This positive trend is likely to be supported by stable macroeconomic growth, financial market stability, strong domestic demand, technological advancements and relevant measures…
Read MoreKUALA LUMPUR (Feb 29): Construction and property development firm Malaysian Resources Corp Bhd (MRCB) said on Thursday its net profit jumped to RM80.23 million for the fourth quarter ended Dec 31, 2023 (4QFY2023), from RM13.02 million a year earlier, as gains from disposal of two properties offset a decline in revenue. The company booked RM167.2…
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