News by theedgemarkets.com

This is after, among others, the creation of an industrial development fund (IDF), which will be part of the investment and asset manager business under Sime Darby Property’s SHIFT 25 business model.

According to the property developer's filings with Bursa Malaysia on Thursday (Feb 24), revenue however dropped to RM136.45 million in the fourth quarter ended Dec 31, 2021 (4QFY21) from RM194.11 million

The group saw its net profit jump three-fold to RM793.42 million for the cumulative nine months ended Dec 31, 2021 (9MFY22) from RM247.76 million a year ago, even though revenue came in lower by 4.7% to RM3.18 billion from RM3.33 billion in 9MFY21 due to lower construction activities as a result of the Covid-19 lockdown.

“(For the full year) Sime Darby Property recorded an impressive RM3 billion sales achievement for FY21. This exceeded the group’s FY21 sales target of RM2.4 billion and is a significant 50% year-on-year increase from the previous year,” the company said.

Quarterly revenue declined 26.1% to RM233.09 million from RM315.41 million mainly due to lower recognition from the group’s industrial and commercial product

The 42-acre freehold Rimbun Aman comprises 304 units of single-storey link homes with built-up ranging from 971 sq ft to 1,135 sq ft. It is priced from RM350,000 and has a gross development value of RM125 million.

In a virtual briefing of E&O'S latest results, managing director Kok Tuck Cheong said that the two towers of serviced apartments located in Penang have been well-received with a take-up rate of 80% for block A of the project since its soft launch in January 2022.

In a Bursa Malaysia filing on Wednesday (Feb 23), the group said its quarterly revenue surged by 67.53% to RM4.11 billion from RM2.45 billion, fuelled by higher revenue reported by its plantation segment amid increase in crude palm oil (CPO) prices. 

In a Bursa Malaysia filing on Wednesday (Feb 23), the property developer said its quarterly revenue fell by 18.85% to RM496.34 million from RM611.64 million in 4QFY20.

Gamuda said in a statement on Tuesday (Feb 22) to Bursa Malaysia that GBSG and Wai Fong Construction have formed an unincorporated JV on a 60:40 basis respectively, under which GBSG  is the lead member for the design and construction of the planned Defu station and tunnels along Tampines Road.