News by M

CDL China, a wholly-owned subsidiary of City Developments Limited (CDL), is acquiring a prime Shanghai commercial project, Meidao Business Plaza for RMB 900 million (S$186 million) through the purchase of a 100% equity stake in Shanghai Meidao Investment Co.

The RM368 million Kangar City Centre (KCC) project, which is scheduled to begin construction in the next three to five months, will become a new landmark for the state capital, said Perlis Menteri Besar Datuk Seri Azlan Man.

Kuala Lumpur Kepong Bhd’s (KLK) net profit declined sharply in its first financial quarter ended Dec 31, 2016 (1QFY17), mainly due to the absence of a one-off gain of RM485.7 million on disposal of plantation land in 1QFY16.

2016 saw two sizeable job wins which lifted Hock Seng Lee Bhd’s (HSL) outstanding order book to a record RM2.2 billion. Physical construction has, however, been slow, and is expected to progress meaningfully only in 2017.

Sunway Real Estate Investment Trust’s (REIT) distribution per unit (DPU) for the second quarter ended Dec 31, 2016 (2QFY17) fell 11.3% to 2.28 sen from 2.57 sen a year ago, on the cessation of manager’s fee payable in units, effective FY17.

Hektar Real Estate Investment Trust’s (REIT) net property income (NPI) slipped 4.1% to RM18.73 million for the fourth quarter ended Dec 31, 2016 (4QFY16), from RM19.53 million a year earlier, due to higher service and maintenance charges.

去年下半年槟城产业市场价量齐跌，促使部分发展商押后新项目推介。

Bina Darulaman Bhd (BDB) saw its net profit rise 61.4% to RM23.27 million or 7.65 sen a share in the fourth quarter ended Dec 31, 2016 (4QFY16) from RM14.41 million or 4.74 sen a share a year ago, due to higher contribution by the property division.

Sunway Property, the property division of Sunway Bhd, is looking to launch RM2 billion worth of properties this year with 90% of the launches in Malaysia, while the remaining will be in Tianjin, China.

Sunway Property’s newly acquired 8.45-acre prime land along Jalan Peel, Kuala Lumpur will be developed into Sunway Velocity TWO.