News by Justin Lim

Ekovest Bhd's net loss for the fourth quarter ended June 30, 2022 (4QFY22) ballooned to RM123.81 million from RM2.66 million a year before, dragged by lower contribution from the construction and property investment segments.

Yong Tai Bhd's net loss swelled to RM135.34 million in the fourth financial quarter ended June 30, 2022 (4QFY22), mainly due to an impairment loss of RM113.1 million.

Mulpha International Bhd’s net profit rose 15.8% to RM35.77 million or earnings per share of 11.5 sen in the second quarter ended June 30, 2022 (2QFY22), from RM30.9 million or 9.72 sen a year ago.

Berjaya Land Bhd (BLand) reported a higher net loss of RM133.44 million in the fourth quarter ended June 30, 2022 (4QFY22) up 5.61% from RM126.34 million a year ago, due to provisions it made to impair the balance proceeds of a mall it sold in China, which it feared it might not be able to collect.

Vizione Holdings Bhd is buying property development company Midlands City Sdn Bhd for RM38 million cash in a related party transaction.

The land has been approved for the development of one 27-storey block of studio apartments and serviced apartments.

TWL Holdings Bhd (previously known as Tiger Synergy Bhd) has proposed a renounceable rights issue of five-year redeemable convertible unsecured loan stocks (RCULS) that come with free detachable warrants.

GuocoLand (Malaysia) Bhd's net profit for the fourth quarter ended June 30, 2022 (4QFY22) jumped over three times to RM23.79 million from RM7 million a year before, due to higher contribution from the property development division and lower loss incurred by the hospitality division.

This comes after Aspen Group ventured into glove-making business in August 2020 and set up its glove manufacturing plant at Kulim Hi-Tech Park in Kedah. Its glove unit is operating under the name Aspen Glove Sdn Bhd (AGSB), which is a joint venture between Aspen Group and CMY Capital Sdn Bhd, an investment holding company founded by businessman Tan Sri Chua Ma Yu.

"The proposed debt settlement as well as the listing of and the quotation for the new settlement shares will be implemented after the proposed share consolidation and proposed bonus issue of warrants," said the property developer in a filing with Bursa Malaysia.