News by M

GuocoLand (M) Bhd's (KL:GUOCO) net profit more than halved to RM2.32 million in the first quarter ended Sept 30, 2024 (1QFY2025), from RM4.79 million a year earlier, as revenue fell on reduced contribution from the property development division.

Atlan Holdings Bhd's (KL:ATLAN) 75.53%-owned subsidiary Duty Free International Ltd (DFIL) (5SO.SI), which is listed on the Singapore Exchange, said it is not satisfied with the RM69.9 million compensation for two pieces of land in Bukit Kayu Hitam, Kedah, that Malaysia's Ministry of Home Affairs (KDN) has compulsorily acquired for a road construction project.

Paragon Globe Bhd (KL:PGLOBE) said it has secured the rights to develop 67.42 acres of land in Iskandar Puteri, Johor, for a residential project with an estimated gross development value of RM733.12 million.

Noteworthy:

• Freehold
• Built-up size: 70,000 sq ft
• 15 rooms, 6 bathrooms
• Fully furnished
• Nearby amenities: Columbia Asia Hospital-Klang, various small businesses, F&B outlets, schools, and residential areas
• Accessibility: West Coast Expressway, New North Klang Straits Bypass (NNKSB), Jalan Kapar, Jalan Klang-Teluk Intan

When: June 2024

The reason Fajarbaru Builder Group Bhd (KL:FAJAR) pulled out from participating in the affordable housing development in Putrajaya dubbed Residensi Cemara, which is estimated to have a gross development value of RM192 million, was that it had deemed the project "not sustainable" following a change in requirements.

As of Sept 30, 89% of the targeted affordable homes, or 443,259 units, have been completed, are currently under construction or are in the planning stages nationwide.

Kerjaya Prospek Group Bhd shares rose in early trade in Bursa Malaysia today after the company expanded its property portfolio in Penang.

UEM Sunrise Bhd has launched HomeClick, a new online platform that aims to simplify and digitise the homebuying process for its customers. 

Singapore-based Oxley Holdings Ltd via a subsidiary, Artisan Hospitality Sdn Bhd, has formed a joint venture with Langham Hospitality Group (LHG) to open The Langham, Kuala Lumpur hotel at the Oxley Towers KLCC mixed development in 2027.

Avaland Bhd (KL:AVALAND) launched the Sanderling 2 high-rise residential project over the weekend. Sanderling 2 is the fourth and final phase of the developer’s 23-acre freehold Lakefront Residence development in Cyberjaya.