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LBS Bina maintains RM1.5b sales target
Press conference: (from left) LBS Bina executive director Datuk Cynthia Lim, Lim and executive director Datuk Alan Chia sharing a light moment after the AGM.PETALING JAYA: Property developer LBS Bina Group Bhd is maintaining its RM1.5bil sales target as the company will launch new projects worth...
Mah Sing results in line with expectations
KUALA LUMPUR: Mah Sing Group’s latest financial results have come in line with Maybank Investment Bank Research’s expectations.The research house said after deducting the RM18.3mil distribution to perpetual sukuk holders, 1Q17 net profit of RM72mil was in line, accounting for 24%/20% of the...
Sime Darby targets year-end for unit’s IPO
BY P. ARUNASime Darby president and group chief executive Tan Sri Mohd Bakke Salleh.KUALA LUMPUR: The listing of Sime Darby’s plantation and property businesses are expected to take place by December, with the group set to submit the prospectus during the third quarter the year.“We hope to...
Higher CPO prices boost Sime Darby Q3 profit
BY P. ARUNABakke: ‘We will close the year around 3% or 4% higher than last year.’KUALA LUMPUR: Sime Darby Bhd recorded a 5.4% higher net profit to RM699mil for its third quarter ended March 31, while revenue jumped 21.6% to RM12.4bil, mainly on the back of higher crude palm oil (CPO) prices.CPO...
Mah Sing plans to buy more land in Klang Valley
BY INTAN FARHANA ZAINULPETALING JAYA: Mah Sing Group Bhd, which reported a net profit of RM90.42mil in the first quarter ended March 31, says it plans to buy more land in the Klang Valley area.The property developer is targeting to increase its land bank’s gross development value (GDV) in the...
Hap Seng expects revenue boost from Malaysian Mosaics
Lee: ‘Our current property offerings, including the Aria KLCC, have seen encouraging take-up rates in spite of the slowdown in demand for high-end developments.’KUALA LUMPUR: Hap Seng Consolidated Bhd expects its tile manufacturing unit to significantly boost revenue of the company’s building...
EPF, MRCB in RM21bil mixed development project in Bukit Jalil
BY M. HAFIDZ MAHPARMRCB's subsidiary Rukun Juang is regenerating the Bukit Jalil National Stadium (above) and other facilities at the National Sports Complex, for which it will receive three parcels of land in the vicinity of the complex.KUALA LUMPUR: The Employees Provident Fund (EPF) is taking an...
Doubt over DRealty’s ability to remain a going concern
BY M. HAFIDZ MAHPARCountry Garden Malaysia regional chief executive officer Fu Jinling (right) and DRealty CEO Brian Iskandar Zulkarim (left) looking at the property scale model of Country Garden Central Park in March.KUALA LUMPUR: Damansara Realty Bhd’s (DRealty) external auditors have warned of...
M-Mode to get new shareholder, business revamp
BY TEE LIN SAYPETALING JAYA: There was an off-market transaction of 61.068 million shares or a 37.5% stake of M-Mode Bhd at the price of 30 sen a share yesterday, suggesting that its single largest shareholder and group managing director Datuk Lim Thean Keong is exiting the company.Lim is the...
Mah Sing Q1 earnings at RM90.4m, remaining GDV and unbilled sales RM31.5b
BY LEONG HUNG YEEMah Sing group managing director Tan Sri Leong Hoy Kum.KUALA LUMPUR: Mah Sing Group Bhd posted a net profit of RM90.42mil on the back of RM723.5mil revenue in the first quarter ended March 31, 2017 (Q1, FY17).The property developer’s pre-tax profit rose 6.9%, or RM7.8mil to...