KUALA LUMPUR (Feb 24): Property developer Titijaya Land Bhd has appointed former Kuala Lumpur mayor Datuk Seri Mahadi Che Ngah as its new independent non-executive chairman. Mahadi, 64, served as the 13th mayor of Kuala Lumpur from Oct 1, 2020, to March 31, 2023. His appointment to the board of Titijaya Land was effective immediately,…
Read MoreKUALA LUMPUR (Feb 23): Department store and mall operator Aeon Co (M) Bhd said on Friday that its net profit rose 31% in the fourth quarter from a year earlier, thanks to higher occupancy rate, rental renewals and cost control, while flagging risks from government policy measures. Net profit for the three months ended Dec…
Read MoreKUALA LUMPUR (Feb 23): Axis Real Estate Investment Trust (Axis REIT) announced that the group has entered into a sales and purchase agreement (SPA) with Amsteel Mills Sdn Bhd (AMSB) for the acquisition of a leasehold industrial complex in Klang for RM49 million, cash. Following the acquisition, AMSB will lease the property back from Axis…
Read MoreKUALA LUMPUR (Feb 26): Ancubic Group unveiled the sales gallery of its Ancubic Harmoni mixed-use development in Tanjung Dua Belas, Selangor on Sunday. Ancubic Harmoni is spread across a 33-acre (13.35-hectare) tract, and comprises components such as low-rise commercial projects, mixed and high-rise residential developments, medical and wellness facilities, and learning centres. The RM2.5 billion…
Read MoreKUALA LUMPUR (Feb 26): Malayan United Industries Bhd’s (MUI Group) Metrojaya department store at Mid Valley Megamall will close for renovations from Tuesday, and will be rebranded to MJ by Metrojaya when it reopens in September, according to a press statement last Friday. MUI Group chairman Andrew Khoo said, “As a pioneer anchor tenant in…
Read MoreSime Darby Property achieved RM3.3 billion in sales in FY2023, surpassing its initial target of RM2.7 billion. PETALING JAYA: Sime Darby Property Bhd (SDP) posted a 27.25% rise in net profit to RM131.26 million in the fourth quarter ended Dec 31, 2023 (Q4 FY2023) from RM103.15 million a year ago on the back of its strong…
Read MoreKUALA LUMPUR (Feb 23): Sime Darby Property Bhd’s net profit for the fourth quarter ended Dec 31, 2023 (4QFY2023) rose 27.25% to RM131.26 million from RM103.15 million a year earlier, thanks to strong top line contributions and higher profit from the property development segment. Quarterly revenue increased 5.83% to RM1.01 billion from RM956.9 million a…
Read MoreKUALA LUMPUR (Feb 22): Infrastructure and construction company Ekovest Bhd is disposing of 13 parcels of land measuring a total of 12,400.139 sq m in Section 85 along Jalan Pahang here to Airman Sdn Bhd, a wholly-owned subsidiary of Lim Seong Hai Holdings Sdn Bhd (LSHHSB), for RM66.8 million. The proposed disposal is deemed a…
Read MoreKUALA LUMPUR (Feb 23): Sime Darby Property Bhd (SDP), whose share price jumped to a four-year high following its FY2023 earnings released earlier on Friday, said the weakening of the ringgit could impact its profit margins due to higher costs of raw materials. SDP managing director Datuk Azmir Merican (pictured) said construction costs are vulnerable…
Read MoreKUALA LUMPUR (Feb 22): The Sessions Court has allowed Hydroshoppe Sdn Bhd director Datuk Abdul Hamid Shaikh Abdul Razak Shaikh’s passport to be returned temporarily for him to attend work-related engagements in the US and Germany. Sessions Court judge Suzana Hussin ordered for the passport to be returned from Thursday to March 20, and for…
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