News by Chester Tay

Furniture maker-cum-builder TAFI Industries Bhd has secured a RM115 million contract from Magna Prima Bhd to build serviced apartments in Kepong, Kuala Lumpur over four years.

Iskandar Waterfront City Bhd (IWCity)’s external auditor Messrs Ernst & Young PLT (EY) resigned as the group adhered to “good corporate governance” by revisiting the appointment of auditor from time to time.

Chief financial officer Syed Agil Syed Hashim, who was only appointed last Monday (Aug 29), is appointed as the acting group CEO to assume the day-to-day management.

Poh Kong Holdings Bhd is acquiring two three-storey shoplots from The Lotus Corp Bhd for RM11.35 million in the Petaling Jaya New Town area.

Sunsuria Bhd net profit rose 17% to RM4.16 million for the third quarter ended June 30, 2022 (3QFY22) from RM3.57 million a year ago, as sales momentum rose amid normalising economic activities and the reopening of international borders.

Iskandar Waterfront City Bhd's (IWCity) net loss widened by 45% year-on-year for the second quarter ended June 30, 2022 (2QFY22) on lower level of work and billings achieved for its property development business.

Kerjaya Prospek Property Bhd net profit grew 41% to RM21.72 million for the first quarter ended June 30, 2022 (1QFY23) from RM15.42 million a year ago as both property development and hospitality businesses performed better after the reopening of the economy.

Kerjaya Prospek Group Bhd's net profit grew 78% year-on-year (y-o-y) to RM28.54 million for the second quarter ended June 30, 2022 (2QFY22), from RM16 million previously, as revenue strengthened amid improved progress of construction work activities.

KIP Real Estate Investment Trust (REIT) has appointed its co-founder and executive director Datuk Eric Ong Kook Liong as managing director, a position that had remained vacant since Datuk Chew Lak Seong’s death in June last year.

Tiong Nam Logistics Holdings Bhd has entered into a preliminary collaboration agreement with a unit of Johor Corp (JCorp) to jointly develop a logistics hub on a 300-acre plot of land in Sedenak Tech Valley, Johor.