Net property income of the retail division climbed 10.9% y-o-y to RM142.3 million as Sunway Pyramid Shopping Mall, Sunway Carnival and Sunway Putra Mall contributed higher rental income.
Project involves the building and infrastructure works of the proposed development of 1,572 units of PR1MA homes.
According to Bloomberg data, the shares were traded in five blocks at a price of RM1.75 apiece, representing a 3.3% discount to the counter’s closing price of RM1.81 yesterday
Located in Jorge Juan Street, Salamanca district, the 8,826 sq ft site is a sought-after residential and commercial area with a high presence of retailers as well as food and beverage outlets.
Rahim & Co founder and executive chairman Tan Sri Abdul Rahim Abdul Rahman pointed out that based on historical data, the local market has a 10-year cycle.
Residents of the city have called for the Trump name to be removed from the Trump International Hotel & Tower Vancouver, the report said.
"The board expects the property development segment to continue to contribute positively to the group's performance in the coming financial year."
The group also proposed a final dividend of 10 Singapore cents per share.
Chinese appetite for hotel real estate remains even though Beijing has announced tighter measures on outbound capital in mid-December for “non-core” business activities.
Wong Engineering said it will leverage, among others, on major shareholder and managing director Yong Loy Huat’s expertise and experience to tender for construction and property development projects, as well as supply construction materials for these projects.
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