News Feed
WCT posts 276% jump in net profit on margin growth
PETALING JAYA: WCT Holdings Bhd, an engineering, construction and property company, recorded a three-digit jump in its net profit for its first quarter ended March 31, due to healthy margin growth.WCT’s net profit for the quarter shot up by 276% to RM33.1mil from RM8.8mil a year ago.This was...
Tiong Nam profit higher on improved revenue
PETALING JAYA: Logistics and warehousing provider Tiong Nam Logistics Holdings Bhd reported a net profit of RM38.4mil for its fourth quarter ended March 31, 5% higher than the net profit of RM36.6mil for the same period a year earlier on improved revenue across its segments.Revenue for the quarter...
‘Good move to stop project’
BY SHARANPAL SINGH RANDHAWAALOR SETAR: The decision by the Department of Environment (DoE) to issue a stop-work order to the developer of a RM1.2bil coastal reclamation project dubbed “The Dubai of Malaysia” in Kuala Kedah is a good move, says environmentalist group Sahabat Alam Malaysia...
Court nod for Sunway scheme
BY CHRISTOPHER TANGEORGE TOWN: The High Court here has ruled in favour of Sunway City (Penang) Sdn Bhd in a judicial review application and quashed the decision of the Penang Appeals Board which struck out the planning permission given to the property developer for a project in Sungai Ara.Sunway...
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...
493 condo units sold in four hours
BY RUBY LIMChai (left) and son Michael showing The Holmes 2 model at the launch of the project’s Block B, at Desa Valley in Kuala Lumpur.THE entire Block B of The Holmes 2 in Bandar Tun Razak, Kuala Lumpur by Aset Kayamas was sold out at its launch last weekend.All 493 condominium units were...
Proposal to not have new parking bays shot down
THE announcement by Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor to eventually do away with parking bays in future commercial developments in Kuala Lumpur’s central business district received intense public backlash.While some cited convenience in driving to work, others...