KUALA 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…
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): 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…
Read MoreKUALA LUMPUR (Feb 28): Shares of UOA Development Bhd rose to its record high on Wednesday, as analysts maintained their ‘hold’ call for the stock after the property developer’s financial results ended Dec 31, 2023 (FY2023) fell within their expectations. The counter rose as much as 3.23% or six sen, to a high of RM1.92…
Read MoreKUALA LUMPUR (Feb 28): NCT Alliance Berhad (NCT Alliance) posted a net profit of RM37.6 million for the full financial year ended Dec 31, 2023 (FY2023) on the back of a 16% increase in revenue to RM280 million from RM241 million previously. In a statement on Wednesday, the developer attributed the lower profit to expenses…
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