News by Syahirah Syed Jaafar

Vertice said the contract entails the construction work on a 5.7km bypass connecting Bandar Baru Ayer Itam to Lebuhraya Tun Dr Lim Chong Eu.

The first contract is to build 420 units of single-storey terrace houses, known as Taman Damai Sempurna in Sri Damai, Mukim Kuala Kuantan, for a contract sum of RM52.8 million. The second contract involves 630 units of single-storey terrace houses, known as Taman Seri Sempurna in Mukim Penor, for a contract sum of RM72 million.

The group said its property segment recorded revenue of RM15.45 million following further progress billings and construction progress from its Astoria project in Ampang Hilir.

In a statement to Bursa Malaysia today, SP Setia said the fair value gain was due to the remeasurement of SP Setia's existing equity stake in Setia Federal Hill Sdn Bhd, which has now become a wholly-owned subsidiary of SP Setia. According to SP Setia, Setia Federal Hill was previously a joint venture entity of the group.

This also goes with changing work, companies’ preferences — Regus

The group said revenue for the construction segment was higher by 44.6%, thanks to higher progress billings and local construction projects.

“At the end of the day, it should work with us as we can provide (the industry's) input. After all, we carry the burden (as developers), we well as that of consultants and bankers too.”

The office complex is part of a proposed development spanning over 2,330 acres (943ha) of land owned by the Malaysian Rubber Board (Lembaga Getah Malaysia [LGM]).

"Real estate is a solid investment. Our portfolio of investments covers all sectors of the property market. We have invested in offices, retail, specialist hospitals, logistic warehouses and so on. This is because we want to diversify our risk mitigation. Our assets are prime commercial properties, in strategic locations," Kamalul Arifin said.

Mega projects such as High Speed Rail and East Coast Rail Link are also being reviewed.