Investment

Buoyant sales push Sunsuria net profit up 471%
Sunsuria  

PETALING JAYA: Sunsuria Bhd’s net profit for its second quarter ended March 31, 2017 jumped 471% to RM18.01mil from RM3.15mil in the previous corresponding period, mainly due to buoyant sales from its property projects. In a filing with Bursa Malaysia, the property developer said revenue surged to RM103.68mil from RM38.82mil a year earlier. “The revenue…

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E&O makes RM49mil profit in fourth quarter
Investment  

PETALING JAYA: Property developer Eastern & Oriental Bhd (E&O) made a net profit of RM49.4mil in its last quarter ended March 31, lifting its full-year earnings to RM87.6mil. The group is proposing a final dividend payout of three sen a share. “For the current year, we are expecting property sales to remain weak,” it said…

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Fitters wins RM98mil project
Investment  

PETALING JAYA: Fire protection specialist Fitters Diversified Bhd’s construction unit has won a project worth RM97.78mil from Pencala Jaya Sdn Bhd to construct 338 units of two- and three-storey units located in Rawang, Selangor. The company said in a stock exchange filing that the project would commence on June 1, subject to a period of…

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IGB REIT to enhance yields
Meeting the media: (from left) Barragry, Tan and executive assistant to group MD, Chua Seng Yong at the press conference.  

BY DANIEL KHOO KUALA LUMPUR: IGB Real Estate Investment Trust (REIT) will enhance yields on its existing Mid Valley Megamall and The Gardens Mall by carrying out a reconfiguration exercise in both the malls. “This will increase the net lettable area in the mall by a further 15,000 sq ft to 20,000 sq ft. The…

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IOIPG Q3 revenue up
Total sales value year to date for the Group is registered at RM2.19 billion, a 49% increase compared to the previous year corresponding period.  

Property development continues to drive performance PETALING JAYA: IOI Properties Group Bhd (IOIPG), with three main business segments ie property development, property investment: and leisure and hospitality, posted a revenue of RM895.8 million for Q3 2017 – an increase of 39% compared to the same quarter of the preceding year. After excluding a one-off additional…

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StarPropertyTV (Video): A glimpse of the new wave of entrepreneurship
YCPic  

The advancement in technology has lowered the barriers to entry for businesses, giving rise to startups in Malaysia. More and more young graduates are keen on taking the entrepreneurship route in lieu of the traditional 9 to 5 employment. Today, there are crowdfunding sites like pitchIN, or even government-linked agencies like Cradle Fund Sdn Bhd,…

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MK Land gets surprise tax bill from IRB
Investment  

KUALA LUMPUR: MK Land Holdings Bhd has become the latest public-listed group to announce the receipt of a surprise tax bill from the Inland Revenue Board (IRB). In a filing with Bursa Malaysia, the company said wholly owned subsidiary Saujana Triangle Sdn Bhd (STSB) – the developer of its flagship Damansara Perdana development project in…

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TSR Capital enters MoU to develop high-end properties at PD Waterfront
PD_waterfront  

BY P. ARUNA KUALA LUMPUR: A unit of TSR Capital Bhd has entered into an MoU and with Globe Venture Holdings Inc (GVHI) in relation to the proposed mixed development project of over 52.2 acres situated at PD Waterfront, Port Dickson. The group told the stock exchange on Monday that the MOU was intended to…

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Safe haven from small segment
Siva: ‘The industrial market is very small but it’s close to equilibrium.’  

BY EUGENE MAHALINGAM Industrial sub-sector can help to weather the storm TO property investors, the industrial sub-sector is often considered an after-thought when it comes to investing. However, with the slowdown in the current property market, the industrial sub-sector can be a safe haven to “weather the storm” and, according to some, is poised for…

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Investors eyeing HK told to look at firms with asset disposal plans
New benchmark: Investors can benchmark their offices to the winning bid for Murray Road in Hong Kong.  

BY EUGENE MAHALINGAM INVESTORS eyeing Hong Kong property stocks should look at companies with asset disposal plans, according to CIMB Research. The recommendation comes following the recent sale of Murray Road by the Hong Kong government to Henderson Land Development (HLD), the property company owned by one of the country’s wealthiest families. “We suggest that…

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