News by M

TEE International has declared about S$200,000 (RM634,000) of earnings for the third quarter ended Feb 2017, down 72.3% from the S$600,000 it reported a year ago.

The property developer said it is buying the freehold plots from two Singaporeans, Wellington Tan and Shenton Tan Seng Koon, to develop 400 mixed-residential units comprising bungalows, semi-Ds and terrace houses.

The initial public offering (IPO) will facilitate Inta Bina with greater financial flexibility to pursue future growth opportunities and enhance its reputation in the marketing of its construction services to expand its customer base in Malaysia, the group said.

The compression in its bottom line was largely due to the fallow period of project awards. In contrast, property division’s revenue bucked the trend by growing from RM359.3 million in 6MFY2016 to RM515 million in 6MFY2017 (43.3% y-o-y) driven by sales pickup from Gamuda and Celadon City in Ho Chi Minh City.

The Malaysia My Second Home (MM2H) programme under the Ministry of Tourism and Culture is looking to roll out several initiatives to strengthen the programme, possibly from the third quarter of 2017.

Located on a 6.06-acre of freehold land in Embassy Row, 3rdNvenue has a gross development value of RM2.1 billion and offers 2,500 units of serviced apartments, Small-office Home-office (SoHos) and retail lots in four towers of between 42 and 48 storeys.

According to its bourse filing, the largest contract — valued at RM152.4 million — was awarded by Gas District Cooling (Putrajaya) Sdn Bhd to SCSB.

The Parque Residences is envisioned to cultivate a close-knit community like in the good old days when neighbours are like an extended family.

It said its 60%-owned unit Mitrajaya Equipment Resource Sdn Bhd is buying the land, located along Jalan Nilai-KLIA (towards Bandar Baru Salak Tinggi), from Visible Profit Sdn Bhd.

Strata living is never easy as no one was ever given training as to how to live in strata properties and common sense is not so common when individuals have different values, so says Chur Associates founder and managing partner Chris Tan.