Vivocom unit bags turnkey project worth RM600 mil from Dazamega
Residential condominium project in Hulu Kinta, Perak.
Residential condominium project in Hulu Kinta, Perak.
A requirement for serviced apartment, Soho and Sovo projects
This is the third foray of IOI Properties into Xiamen.
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.
The real estate market outlook for Penang till the end of this year seems rather uncertain due to weak market sentiments in both the primary and secondary markets. This is expected to lead to poorer performance this year, according to Henry Butcher Malaysia (Penang) Sdn Bhd.
The first quarter ended June 30, 2016 (1QFY17) revenue fell 64% mainly due to earlier completion of projects and delays in the launch of new property projects. 1QFY17 net profit was below RM100,000. No interim dividend was declared.
Ivory said the property market remains sluggish with challenging economic environment globally and domestically.
IOI Properties said the land was acquired via its indirect 99.8%-owned subsidiary IOI (Xiamen) Properties Co Ltd through a competitive bidding conducted by the Xiamen Bureau of Land Resources and Real Estate Management.