News by Ahmad Naqib Idris

In Malaysia, the group will be launching more landed and high-rise residential components within the next six months.

The group said the proposed private placement will involve the issuance of up to 51.82 million placement shares, representing not more than 10% of its issued shares.

Based on consultation papers that are available on their website the Securities Commission has proposed requirements similar to those imposed on equity crowdfunding and peer-to-peer platforms.

In separate statements to Bursa Malaysia today, MCT also announced Susan Jacob Secreto's appointment as chief financial officer.

OCR said the letter of award it received from Damansara Realty (Johor) Sdn Bhd, a subsidiary of Damansara Realty Bhd, for the appointment of OCR as the turnkey contractor for the PPA1M project, which spans 11.9 acres, has been terminated.

"Based on calculations using the automated pricing mechanism (APM) formula, the retail price of RON95 and diesel for the period of March 2 to March 8 was supposed to be RM2.13 per litre and RM2.38 per litre respectively."

The property developer attributed the decline in performance to the gains on disposal of a subsidiary and associate recorded in the previous year, as well as high impairment of inventories, negative contribution from its Battersea project, and a higher tax provision.

It attributed the improved performance to the full consolidation of Penang Port Sdn Bhd’s results, higher contribution from the Sungai Buloh-Serdang-Putrajaya mass rapid transit Line 2 (MRT2), no share of losses from Zelan Bhd and higher share of profit from Malakoff Corp Bhd.

Yong Tai said the lower contribution from the property development segment was mainly due to the lack of contribution from Terra Square.

During his presentation at the 12th Malaysian Property Summit, Labrooy said having the government as a tenant is as good as holding a government bond, adding that the government would be a "triple A tenant".