News by M

Revenue dropped 20.02% to RM259.71 million from RM324.71 million in 3QFY16, no thanks to lower contributions from its property development and hotel arms.

"The group will maintain its focus on development in Greater Kuala Lumpur and continue to source for opportune development land acquisition at strategic locations."

It will evidently jeopardise proper maintenance by the JMBs.

"Gamuda Bhd remains our top big-cap rail pick for its exposure to both rail underground civil works and PDP scopes.”

Lot 15 comprises two 20-storey serviced apartment blocks with a total of 361 homes and three levels of retail units. The project has a GDV of RM269.2 million.

Yesterday, L&G said 1HFY18 net profit also more than doubled to RM49.29 million, from RM20.56 million a year earlier.

Company did not disclose the reason for the postponement.

The Urban Wellbeing, Housing and Local Government Ministry is ready to look into the issue of excessive property stock, especially unsold residential units, with various parties to resolve the problem.

Quarterly revenue, however, slid 4% y-o-y to RM125.12 million from RM130.04 million.

Moving forward, the focus is to ramp up local sales with launches in the group flagship townships.