News by Ahmad Naqib Idris

Communications and Multimedia Minister Gobind Singh Deo said TNB’s pioneer broadband project in Jasin, Melaka, which was completed in January with the provision of high-speed broadband (HSBB) access to 1,100 homes, has produced results.

The interchange leads straight into the township's 372-acre commercial business district, where the sales gallery for the project is located.

Any developments approved by Selangor's local councils are required to prioritise the construction of affordable units.

Revenue fell 11% to RM47.26 million from RM52.98 million previously.

Datuk Abdul Farid Alias said Maybank expects BNM to further reduce the OPR after the 25 bps cut to 3% in May this year as global economies take cue from the US' interest rate reduction.

The property developer's managing director and chief executive officer Anwar Syahrin Abdul Ajib said there will be fewer property projects launched in the first half of next year, but this will pick up in the second half, which will see the bulk of its offerings or RM1.57 billion worth of properties launched.

The construction group’s revenue for the quarter declined 33% to RM450.11 million from RM669.9 million in the previous year.

The property development division, meanwhile, saw a higher revenue recognition of RM22.1 million, versus RM20.3 million in the previous year, due to a higher recognition of percentage of completion in respect of the Stonor 3 development.

Going forward, the group said it will continue with its prudent business strategy, adding that it is poised to capitalise on any opportunities that may arise.

They are suing DutaLand Bhd CEO Tan Sri Yap Yong Seong and developer KL Landmark Sdn Bhd for alleged failure to establish a JMB within 12 months of delivery of vacant possession, the misuse of maintenance funds, and other misconduct.