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MRCB’s net profit soars on property sales
Property sales in KL Sentral (above) contribute to Malaysian Resources Corp Bhd's strong bottom line.PETALING JAYA: Malaysian Resources Corp Bhd (MRCB) made a net profit of RM10.5mil for its first quarter ended March 31, 2017, up 2.4 times from the RM4.38mil posted in the same quarter a year...
Sunway posts RM108m profit
Revenue from mall: Revenue from property investment business was higher due to additional revenue from the Sunway Velocity Mall which was opened in December 2016.PETALING JAYA: Construction-and-property firm Sunway Bhd posted a 5.69% rise in net profit to RM107.91mil for the first quarter ended...
ML Global to use pre-cast materials in future projects
BY EUGENE MAHALINGAMLim: ‘The system can help shorten the construction period. Something that takes a whole year can be done in eight to 10 months. The shorter time period means faster revenue.’PETALING JAYA: The rising cost of labour is prompting construction outfit ML Global Bhd to use...
Mah Sing’s Cosmowealth stake purchase viewed positively
BY S. PUSPADEVIPETALING JAYA: The market is viewing positively Mah Sing Group Bhd’s latest acquisition of a 78% stake in Cosmowealth Housing Development Sdn Bhd (CHD) for RM55mil, coming just two weeks after the acquisition of five plots of freehold land in Kuala Lumpur.Mah Sing, which has almost...
Mah Sing boosts land bank with purchase of Cosmowealth
PETALING JAYA: Mah Sing Group Bhd has acquired 78% of Cosmowealth Housing Development Sdn Bhd for RM54.96mil, to be paid over six years.Mah Sing said RM6.56mil was paid upon signing of the agreement, with the balance consideration payable on a deferred payment basis over a period of 72...
Mah Sing plans residential suites in Sentul
Mah Sing's newly acquired land, M Centura in Sentul.KUALA LUMPUR: Mah Sing Group Bhd has acquired 78% of Cosmowealth Housing Development Sdn Bhd (Cosmowealth) for RM54.96mil, to be paid over six years.In a statement, Mah Sing said RM6.56mil was paid upon signing of the agreement, with the balance...
IJM Corp 4Q17 earnings jump to RM236mil
KUALA LUMPUR: IJM Corp Bhd's net profit surged to RM236mil in the fourth quarter ended March 31, 2017 compared with RM44.23mil a year ago.The group recorded a pre-tax profit of RM375.21mil in the fourth quarter, an increase of 178.3% over the corresponding quarter of the preceding year, mainly due...
IWC: Prospects for company remain positive
IWC chairman Datuk Ayub Mion said the company’s waterfront developments in Johor “are progressing well”.PETALING JAYA: Property developer Iskandar Waterfront City Bhd (IWC) said that the prospects for the company remained positive despite the challenging economic backdrop.The company said in...
Buoyant sales push Sunsuria net profit up 471%
In a filing with Bursa Malaysia, the property developer said revenue surged to RM103.68mil from RM38.82mil a year earlier.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...
E&O makes RM49mil profit in fourth quarter
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...