News by John Lai

IOI Properties Group Bhd (KL:IOIPG) said on Wednesday its net profit jumped more than five times in the fourth quarter from a year earlier thanks largely to a revaluation gain.

Min Huat, 66, is the son of Menang’s major shareholder Datuk Lee Chin Hwa, who owns a 17.9% stake in the company. Min Huat is also the executive chairman of Scope Industries Bhd.

Tropicana said the original cost of investment in the land stood at approximately RM143.19 million.

Eastern & Oriental Bhd (KL:E&O) reported a 13.9% increase in its net profit to RM37.52 million for the first quarter ended June 30, 2024 (1QFY2025), from RM32.95 million a year ago, as improved property segment contribution helped offset a weaker healthcare segment.

LBS Bina Group Bhd (KL:LBS) said its second quarter net profit rose 4.9% to RM34.64 million  from RM33.01 million a year ago, boosted by contributions from its key property development projects.

Builder Tuju Setia Bhd (KL:TJSETIA) has bagged a RM247.95 million contract from Sime Darby Property Bhd (KL:SIMEPROP) to construct two blocks of service apartments with a gross development value (GDV) of RM597.2 million in USJ 7, Subang Jaya, Selangor.

SBC Corporation Bhad (KL:SBCCORP) said it is selling a 2.2-acre land in Kuala Lumpur for RM36.6 million.

Varia Bhd (KL:VARIA) said on Wednesday it had secured a construction subcontract worth RM61.45 million.

LBS Bina Group Berhad (KL:LBS) announced that its wholly-owned subsidiary, Gerbang Mekar Sdn Bhd (GMSB) has received and filed a memorandum of appearance at the Kuala Lumpur High Court in respect to a writ and statement of claim amounting to RM43.03 million.

Kitchen cabinet manufacturer Signature International Bhd (KL:SIGN) is selling two parcels of freehold land within an industrial park Techpark @ Enstek Phase 2 in Negeri Sembilan for RM25.7 million cash or RM59 per sq ft.