News by theedgemarkets.com

The developer said its earnings grew following the progressive recognition of ongoing development projects, namely the United Point Residence and Link Lifestyle Apartments. In particular, the higher bottom-line figures were mainly derived from the United Point Residence, which was completed during the quarter.

Penang-based Wabina Constructions & Engineering Sdn Bhd will have the full merits of its application over its legal challenge of a government decision that effectively exempts all companies in debt from having to pay its creditors for six months following the Movement Control Order, which was implemented to curb the spread of Covid-19.

10 more patients recovered today, bringing total recoveries to 8,318 cases or 96.3% of overall cases.

Of the 10 new infections, four were imported cases and six were local transmissions involving four Malaysian citizens and two foreigners, said MoH director-general Datuk Dr Noor Hisham Abdullah.

Datuk Dr Noor Hisham Abdullah: If you are infected, that does not mean that you will not be infected again, because the antibody that is built up may not be sufficient to defend against a second infection.

MRCB explained that the higher earnings were due to the commencement of revenue recognition from the group’s 1060 Carnegie development in Melbourne upon the handover of units to purchasers, and further construction progress and revenue recognition from the Sentral Suites development in KL Sentral.

IJM said its property development business, the group’s biggest revenue contributor, was boosted by the completion of the Royal Mint Gardens in London, UK. However, due to the recognition of impairment of inventories in 4QFY20, pre-tax profit came in 19% lower compared with the preceding year’s corresponding quarter.

MoH director-general Datuk Dr Noor Hisham Abdullah: In comparison, the recovery rate of Covid-19 cases in Malaysia (96.4%) is among the highest among Asean countries. Besides that, the Covid-19 mortality rate in Malaysia is also among the lowest in the world. No case of Covid-19 death has been reported in the past 12 days.

In a research note today, CGS-CIMB said the group could hit its current target — which is subject to revision once market conditions normalise — due to its good sales momentum and aggressive marketing initiatives.

Relaxation measures recently introduced by the government will help jumpstart the local market, according to Savills Malaysia.