JKG Land's 3Q back in black with RM2.7m net profit on property development gains
This is compared to a RM835,000 net loss a year ago.
This is compared to a RM835,000 net loss a year ago.
As at 10:09am, AZRB shares pared gains at 95 sen with 122,000 shares traded.
Rented for: RM4,100 (RM5.95 psf); Concluded by: Chong Teck Seng (REN 05043) of MIP Properties Sdn Bhd (012-873 1283); When: August 2017
Called Northbank, it will be located in the greater Tabuan area.
It is already almost as tall as the Petronas Twin Towers.
The land is supposed to be for the Kuala Lumpur Vertical City (KLVC) development project which will comprise seven towers, including Felda’s KLVC Tower1A.
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.
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