News by M

The losses were caused by the provision for impairment of balance of sales proceeds from the sale of Berjaya (China) Great Mall Co Ltd (GMOC), which amounted to RM155.08 million.

MIDF Research analyst Jessica Low Jze Tieng said the sales of high-end houses would have been affected from January 2018 onward with the proposed hike in stamp duty.

It also seeks to diversify into construction, property development.

Malaysia is ranked 35th out of 153 countries in Forbes’ “Best Countries for Business 2018”.

Sunway said the proposed acquisition will enable it to penetrate and expand into the Sabah pavement market.

The losses were caused by the provision for impairment of balance sales proceeds from the sale of Berjaya (China) Great Mall Co Ltd.

The group plans to apply to the Johor state authority to convert the land from agriculture use to commercial within a year after the acquisition is completed.

However, Malaysia moved up the rankings in terms of annual growth.

Tuan Residency will have 577 units of 3-bedroom and 2-bathroom homes, with built-ups ranging from 878 sq ft to 1,015 sq ft.

“Today marks a major milestone for this game-changing project.”