News by Ahmad Naqib Idris

Country Heights Holdings Bhd (CHHB) posted a net profit of RM2.03 million for the first quarter ended March 31, 2022, versus a net loss of RM5.17 million in the previous year’s corresponding quarter, helped by better performance of its business segments.

Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) on Wednesday (May 11) increased the overnight policy rate (OPR) by 25 basis points to 2% from a record low of 1.75% as global inflationary pressures have increased sharply and after taking into account that the sustained reopening of global economy and improvement in labour markets continue to support the recovery of economic activity from the impact of Covid-19-driven movement restrictions.

Distributable income for the quarter amounted to RM20.5 million or 0.95 sen per unit, while revenue grew 19% to RM67.59 million from RM56.66 million a year earlier.

Under the deal, MPSB will construct the building which will be able to accommodate 94 beds of single rooms with a minimum of 300 parking bays under Phase 1 of the project.

In a filing with the bourse, PMB said SOGDC — a company owned by the state of Sabah — owns and manages SOGIP, which is in the process of being developed into an industrial park dedicated for oil and gas (O&G) activities

The company said it could not make the payment within 30 days of the letter of demand dated Feb 4 because it was unable to obtain the relevant financial information within the agreed timeline.

In a bourse filing, the company said its wholly-owned subsidiary FBO Land (Setapak) Sdn Bhd has inked a conditional sale and purchase agreement with Eastland, Top Land Resources Sdn Bhd, Mentiga Development & Construction Sdn Bhd and Leading Ventures Sdn Bhd for the purchase of the commercial units for RM24.8 million, to be satisfied via the issuance of 381.54 million new shares at 6.5 sen apiece.

Speaking at a press conference here on Friday (March 4) in conjunction with Paramount's recent announcement of its financial results, group chief executive officer Jeffrey Chew Sun Teong said the group in collaboration with consortium partners, had been keeping the digital banking plans under wraps as the consortium knew that there was a lot of competition for BNM’s five digital banking licences, which are slated to be issued in March 2022.

The record performance was attributed to its sales in Singapore, although Sunway Property managing director Sarena Cheah said the group saw commendable sales across all segments.

In a statement on Tuesday, Housing Minister Datuk Seri Reezal Merican Naina Merican said the appointment is a strategic initiative aimed at obtaining the views and suggestions of the stakeholders of the housing sector from various backgrounds including former senior government officials, academics, professionals, researchers, legal experts, developers, home buyers’ associations, bankers and representatives of the Malaysian Youth Council.