KUALA 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 MoreCancelled taxes include a 15% stamp duty on non-Hong Kong permanent residents and 7.5% on second home buyers. (AFP pic) HONG KONG: Hong Kong has axed all property transaction taxes in a bid to revive the depressed housing market, finance minister Paul Chan said in his annual budget speech Wednesday. The finance hub’s economy was…
Read MoreKUALA LUMPUR (Feb 27): UOA Development Bhd’s fourth quarter net profit more than doubled to RM118.72 million from RM53.06 million a year ago, helped by a progressive recognition of its ongoing development projects. Revenue for the quarter ended Dec 31, 2023 was, however, down 3.1% to RM109.01 million from RM112.52 million previously, the property developer’s…
Read MoreKUALA LUMPUR (Feb 27): OSK Holdings Bhd’s net profit for its fourth quarter of financial year 2023 fell 19.29% to RM97.8 million from RM121.17 million a year earlier, despite higher revenue, as its bottom line was crimped by higher tax expenses and cost of sales, and lower share of profits from its associates and a…
Read MoreKUALA LUMPUR (Feb 27): Platinum Victory recently launched its mixed development PV22 Residences (PV22) with a view to “redefine a self-sustaining development”. Situated in Setapak with an estimated gross development value (GDV) of RM1.3 billion, it will have the concept of balanced urban living. “Designed and developed with all-round wellness in mind, PV22 not only…
Read MoreKUALA LUMPUR (Feb 28): The Ministry of Investment, Trade and Industry (Miti) has presented a proposal for a one-time subsidy for electric vehicle (EV) ownership to boost growth of the industry in Malaysia. Deputy Investment, Trade and Industry Minister Liew Chin Tong (pictured) said the proposal was presented to the Ministry of Finance (MOF) during…
Read MoreKUALA LUMPUR (Feb 28): Genting Bhd’s Resorts World Genting said it will close two of its three casinos effective Wednesday. The gaming group posted the announcement on the Resorts World Genting website, stating that Genting Casino 1 (Circus Palace) and Genting Casino 2 (Hollywood) will be closed with effect from Wednesday. The notice advised customers…
Read MoreKUALA LUMPUR (Feb 28): Hap Seng Consolidated Bhd’s fourth quarter ended Dec 31, 2023 (4QFY2023) net profit fell 61.88% to RM37.36 million, from RM98.02 million a year ago, due to lower operating profit dragged by lower profit contribution from all divisions except building materials division. Operating profit in the quarter dropped 24% to RM170.6 million…
Read MoreKUALA LUMPUR (Feb 27): Malaysia Building Society Bhd (MBSB) posted a 50% jump in fourth quarter net profit to RM301.15 million from RM200.73 million a year earlier, after recording a one-off gain of RM354 million from the acquisition of MIDF Group. Besides the gain on acquisition, the group’s net income for the quarter ended Dec…
Read MoreKUALA LUMPUR (Feb 28): Genting Bhd’s Resorts World Genting, said that it will close two its three casinos, effective Wednesday. The gaming group posted the announcement on the Resorts World Genting website, stating that Genting Casino 1 (Circus Palace) and Genting Casino 2 (Hollywood) will be closed with effect from today. The notice advised customers…
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