News by M

Ekovest Bhd said it is close to securing about RM400 million more contracts for its construction division within financial year ending June 30, 2017 (FY17), which will boost its orderbook to exceed RM7 billion.

Titijaya Land Bhd plans to enter the affordable housing segment with a proposed development of RM2.4 billion in gross development value (GDV) in Bukit Raja, Petaling in Selangor in the second quarter of 2017.

IJM Land Bhd, the property development arm of IJM Corp Bhd, will launch the Waterside Residence at The Light in Penang sometime in December.

Sunway Construction Group Bhd’s (SunCon) third quarter net profit climbed 21% year-on-year (y-o-y) on stronger earnings from its construction segment, which saw a better profit before tax (PBT) margin of 9.3% compared to 2.4% previously.

WCT Holdings Bhd reported its third quarter of financial year 2016 (3QFY16) results with a revenue of RM414 million (+11% year-on-year, -29% quarter-on-quarter) and core earnings of RM20 million (+181% y-o-y, -8% q-o-q). 

Once an investor favourite just a few years ago, Singapore has now sunk to “near the bottom” of the rankings it once topped while struggling with overcapacity, falling demand and a slump in its residential sector.

Naza TTDI Sdn Bhd, the property arm of Naza Corp Holdings Sdn Bhd, is actively on the lookout for more land banks in its quest to expand its property portfolio, said its executive director Idzham Mohd Hashim.

EcoHill Walk Mall, a neighbourhood mall at the Setia EcoHill township in Semenyih, is expected to open its doors by the first quarter of 2021.

Property developer Malton Bhd's net profit in the first quarter of the financial year ended Sept 30, 2016 (1QFY17) rose 44.4% year-on-year (y-o-y) to RM6.26 million from RM4.33 million, mainly on higher revenue from its property development division.

The local real estate industry can look forward to expanding their businesses across the Asean (Association of Southeast Asian Nations) region more effectively, thanks to an initiative by regional real estate bodies, including The Malaysian Institute of Estate Agents (MIEA).