News by Billy Toh

The project wins are located in different countries with one of the projects being the construction of one of the largest glass roof structures in the world in Dubai, United Arab Emirates.

For the construction and subsequent execution of works for the proposed mixed development, Latitud8 at Jalan Ampang.

The contractor is still hopeful that Malaysia will continue with the project.

'The income levels did not increase as fast as property prices. As such, property prices keep increasing, but the people cannot afford them.'

"We don't want to say that we'll be launching in Malaysia because I would say that there's a lot of oversupply (in the residential property market) here."

Mainly due to reduced contributions from plantation, heavy industries and property divisions, as well as after allocation to non-controlling interests and perpetual sukuk holders.

Lai said the focus at the moment for its core businesses, such as construction, property development and technology, is to see better integration in order to promote its urban transportation business.

"It would, however, depend on the pricing behaviour as to how traders will pass on the SST cost."

KLK also saw a sharp rise in quarterly pre-tax profit for its property development segment to RM8.3 million, from RM2.5 million previously, as revenue rose to RM50.6 million from RM14 million.

"Yield will be up to 29.6% if 50% of upfront sale proceeds are paid out."