News by Kamarul Azhar

Twenty-two companies made the list, of which only three are subsidiaries of listed companies on Bursa Malaysia. China Harbour Engineering Co Ltd (CHEC), a subsidiary of China Communications Construction Co Ltd, also won two contracts, partnering local companies.

Gabungan AQRS Bhd, a mid-size construction and property development company, is getting a RM500 million subcontract for the CA3 portion of the Sungai Besi-Ulu Kelang Expressway (SUKE).

DBKL has approved a high plot ratio of 10 times for the project

Tadmax Resources Bhd managing director Datuk Seri Anuar Adam, a retired major of the Malaysian army, will focus on transforming the loss-making company into a property and power generation player after cleaning its books for the past five years.

TRX City Sdn Bhd (formerly known as 1MDB Real Estate Sdn Bhd) saw a net profit of RM380.6 million in the financial year ended March 31, 2015 (FY2015). But it could have been a lot less had it not been for the income from the relocation of the Kuala Lumpur Air Force base (Pangkalan Udara Kuala Lumpur or PUKL).

Developers with a chunk of their sales in affordable housing are expected to weather the storm much better than those with high-end products, say analysts and real estate consultants.

While the Malaysian economy is not in a full-blown crisis, the slowdown is definitely giving many developers a headache.

According to TRX City’s 2015 annual report, which was filed with the Companies Commission of Malaysia on April 1, the sharp drop in earnings was due to an almost tripling of “other expenses” to RM158.85 million, from RM55 million.

Gabungan AQRS Bhd’s partnership with state-linked companies, including Sabah’s Suria Capital Holdings Bhd and Tanah Makmur Bhd — whose major shareholders include Pahang’s crown prince Tengku Abdullah Sultan Ahmad Shah — puts it in a good position to bag future jobs.

As a greenfield development, Iskandar Puteri in Johor, formerly known as Nusajaya, has gone through two growth phases — infrastructure and property development. The question now is what industry should be promoted to turn it into an economically vibrant city?