Property developer Paramount Corp Bhd slipped into the red in the second quarter ended June 30, 2020 (2QFY20), posting a net loss of RM3.7 million compared with a net profit of RM28.47 million a year ago, mainly due to the unprecedented disruption caused by the Covid-19 pandemic to the property division. This resulted in a…
Read MoreE&O Residences Kuala Lumpur (EOR KL) (pictured) will cease operations from next month, reported the New Straits Times yesterday. “With the cessation of operations on Sept 18, our priority is to ensure all our staff are supported and given appropriate notice in accordance with their employment contract,” a company spokesman told the daily. The report…
Read MoreGuocoland (Malaysia) Bhd, the property development arm of the Hong Leong Group, has posted its ninth consecutive quarterly loss despite a sharply higher revenue. The company’s net loss for the fourth quarter ended June 30, 2020 (4QFY20) expanded to RM19.38 million, from RM10.13 million in the immediate preceding quarter, according to its filing with Bursa…
Read MoreThe Housing and Local Government Ministry will pay compensation for the 24 development projects under PR1MA Corporation Malaysia (PR1MA) that have been cancelled, said Minister Zuraida Kamaruddin (pictured). She said the compensation payment depends on the value of the land for the area involved. “Most of the land was purchased by the ministry. Only some…
Read MoreProperty developer NCT Group of Companies (NCT Group) has partnered with Future Inno Park Sdn Bhd to promote Kuala Langat Industrial Hub to become the “industrial hub of choice” for the electrical and electronic (E&E) industry. Located at the border between the Kuala Langat and Sepang districts in Selangor, the industrial hub is expected to…
Read MoreResearch houses have reduced their gross domestic product (GDP) outlook for 2020 but improved their forecast for 2021. This comes after Bank Negara Malaysia (BNM) revised its 2020 growth forecast downward to between -5.5 per cent and -3.5 per cent from -2.0 per cent and 0.5 per cent, mainly to reflect the severity of the…
Read MoreS P Setia Bhd has achieved RM875 million in sales for the first half-year ended 30 June 2020, with local projects contributing RM702 million, the company announced. In a media statement today, the company said local projects had contributed 80% of the total sales while the remaining RM173 million or approximately 20% were contributed largely…
Read MoreThere is no need to impose vacancy tax on unsold units of luxury high-rise residences in the Klang Valley as the number remains low, said Deputy Federal Territories Minister Datuk Seri Dr Edmund Santhara Kumar. “From the ministry’s point of view on the proposal to impose such tax, there is no need for now but…
Read MoreSome 53% of buyers said that their budget for property purchase has either remained unchanged or increased since the start of the Covid-19 pandemic, a Knight Frank Global Buyer Survey revealed. The survey was conducted between June 5 and June 23, 2020 to explore the pandemic’s impact on residential property markets and buyers’ attitudes. It…
Read MorePRG Holdings Bhd partnered with Maybank Islamic to offer HouzKEY for its development called Embayu @ Damansara West with 100% financing at the lowest rate for the first five years. In a press statement today, PRG said HouzKEY is a new home financing solution offered by Malaysia Islamic to assist Malaysian first and second home…
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