KUALA LUMPUR (Feb 22): Property developer Eastern & Oriental Bhd (E&O) has reported a 14.47% growth in its third quarter net profit, thanks to higher contributions from its property and hospitality segment, as well as higher unrealised foreign exchange gains. Net profit for the quarter ended Dec 31, 2023 (3QFY2024) rose to RM34.44 million or…
Read MoreKUALA LUMPUR (Feb 22): Radium Development Bhd has announced a profit before tax (PBT) of RM15.77 million for 4QFYE2023. The group also generated a revenue of RM28.27 million in in the quarter. Radium Development also maintained a gross gearing ratio of 0.05 times “reflecting its financial stability and strategic management amidst project dynamics”, stated the…
Read MoreKUALA LUMPUR (Feb 21): Gamuda Land, the property arm of Gamuda Bhd, signed memorandums of understanding (MOUs) with three higher educational institutions on Feb 3 for research on environment conservation. The signing was held in conjunction with the Wetlands Festival 2024, organised by the developer’s Gamuda Parks initiative, at Gamuda Cove, Selangor, according to a…
Read MoreKUALA LUMPUR (Feb 20): Batu Kawan Bhd and its 47.74%-owned Kuala Lumpur Kepong Bhd (KLK) has reported lower earnings for the first quarter of financial year 2024 (1QFY2024), dragged by the losses incurred in the manufacturing and farming segments. KLK’s net profit dropped 49% year-on-year to RM226.94 million or 21 sen per share in 1QFY2024,…
Read MoreContributed by Teoh Tze Ping In the dynamic landscape of the Malaysian construction industry, where challenges like rising building costs persist, the need for innovation has never been more urgent. A 2022 study by The Real Estate and Housing Developers’ Association (Rehda) Property Industry highlighted an annual increase in building costs, emphasising the importance of…
Read MoreKUALA LUMPUR (Feb 20): Bursa Malaysia Securities has extended affected listed issuer Landmarks Bhd’s deadline to submit its regularisation plan by six months to July 28. This is in response to the company’s application for an extension of time in January, which it submitted as its previous Jan 28 submission deadline approached. According to…
Read MoreKUALA LUMPUR (Feb 20): Aluminium extruder PA Resources Bhd is buying two parcels of adjoining industrial land in Kuala Selangor for a total of RM21 million to build a new factory that would increase its production capacity. In a filing with Bursa Malaysia on Monday, PA Resources said its wholly-owned PA Extrusion (M) Sdn Bhd…
Read MoreKUALA LUMPUR (Feb 20): Jade Marvel Group Bhd’s managing director Eddie Chong Wei Chuan has resigned from his position, after heading the company for about a year. In a filing with Bursa Malaysia on Monday, Jade Marvel said Chong resigned due to “other personal commitments”. Chong, 35, was appointed as executive director of the company…
Read MoreKUALA LUMPUR (Feb 20): AEON Co (M) Bhd has appointed Naoya Okada as its managing director, effective from March 1, 2024. Okada takes over from Keiji Ono, who will be returning to AEON Japan to take on a new assignment. “The board acknowledges and welcomes Okada, as he has been instrumental in AEON [Co]’s growth as its deputy…
Read MoreKUALA LUMPUR (Feb 20): Real Estate and Housing Developers’ Association (Rehda) Malaysia urged the government to remain vigilant and take measures to the full extent permissible by law against individuals masking as developers, to curb the country’s illegal projects that could lead to abandonment. In a press statement issued by Rehda Malaysia president Datuk NK…
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