KUALA LUMPUR (Nov 27): UOA Development Bhd’s net profit dropped by 47% year-on-year for the third quarter ended Sept 30, 2023 (3QFY2023), in line with a lower set of quarterly revenue, coupled with higher tax expense. Net profit fell to RM50.86 million or 2.08 sen per share for 3QFY2023, from RM96.19 million or 4.03 sen…
Read MoreKUALA LUMPUR (Nov 27): MIDF Research has downgraded AEON Co (M) Bhd to “neutral”, with a lower target price of RM1.14 (previously RM1.40), based on an unchanged price-earnings ratio of 13.9 times, pegged at a lower earnings per share of 8.2 sen forecast for the financial year ending Dec 31, 2024 (FY2024). Despite profit rising…
Read MoreKUALA LUMPUR (Nov 27): Malaysian Resources Corp Bhd (MRCB) reported a net profit of RM1.46 million or 0.03 sen in the third quarter ended Sept 30, 2023 (3QFY2023), down 93.84% year-on-year from RM23.70 million or 0.53 sen a year ago. Quarterly revenue declined 41.43% to RM503.74 million in 3QFY2023 from RM860.02 million in 3QFY2022, according…
Read MoreKUALA LUMPUR (Nov 27): Sime Darby Property Bhd announced its goal to reduce Scope 1 and Scope 2 emissions by 40% by 2030 and achieve net zero emissions by 2050 on Monday. These targets will be reached by retrofitting its assets with energy efficient technology, adopting renewable energy, encouraging behavioural change among its staff and…
Read MoreKUALA LUMPUR (Nov 24): AEON Co (M) Bhd’s net profit rose 26.54% to RM13.88 million for the third quarter ended Sept 30, 2023 (3QFY2023) from RM10.97 million a year earlier, mainly contributed by a one-off gain on the derecognition of lease of its Kota Bharu land, and reduced operating costs. Earnings per share rose to…
Read MoreIOI Properties’ fall in Q1 revenue was offset by the improved performance in its property investment segment which rose 31%. PETALING JAYA: IOI Properties Group Bhd’s net profit for its first quarter ending June 30, 2023 (Q1 FY2024) plunged 72.7% to RM174.44 million from RM640.29 million a year ago. In its bourse filing today, the…
Read MoreKenanga Research remains cautious over SP Setia’s exposure to high-end residential property, massive debt, and losses in joint venture projects. PETALING JAYA: Kenanga Research has maintained its “underperform” call on SP Setia Bhd as the property developer disappointed by posting a 35.5% drop in net profit for its third quarter ended Sept 30 (Q3 FY2023)…
Read MoreSime Darby Property Bhd is on track to surpass its FY2023 sales target of RM2.7 billion. PETALING JAYA: Sime Darby Property Bhd (SDP) experienced a more than twofold increase in net profit, surging to RM144.92 million in the third quarter ending Sept 30, 2023 (Q3 FY2023), compared to RM56.13 million reported a year ago. Meanwhile,…
Read MoreKUALA LUMPUR (Nov 23): Kerjaya Prospek Bhd is demanding RM20 million in termination damages from BCM Holdings Sdn Bhd, a subsidiary of Ecofirst Consolidated Bhd, after BCM suddenly decided not to proceed with the RM404.35 million residential project it awarded to the group in June this year. Kerjaya Prospek said its solicitor has issued a…
Read MoreKUALA LUMPUR (Nov 24): Datuk Tengku Ibrahim Farihaddin Datuk Tengku Feissal has stepped down from the position of independent and non-executive chairman of the construction group Kumpulan Jetson Bhd, less than two months after his appointment to the position. In a bourse filing on Friday, the 48-year-old Tengku Ibrahim cited “to pursue his personal interests…
Read More
