Mah Sing said it achieved approximately RM1.78 billion sales in FY2016 by offering products in line with market demand, namely beginner homes for the mass market and also upgrader homes in selected locations.
Jaks' proposed private placement of up to 43.84 million new shares or about 10% of its existing issued share base could have also led to the stock's decline.
The group said its property development segment’s unbilled sales stood at RM1.5 billion as at Dec 31, 2016, which will provide earnings visibility for the division over the next one to two years.
Revenue was down 68% at RM26.65 million from RM83.95 million a year ago.
IGB Corp Bhd reported a 14.26% fall in its fourth quarter net profit due mainly to lower contributions from its property segment.
Melati Ehsan Holdings Bhd will focus on affordable-housing development around the Klang Valley to rely less on its construction segment.
The company said the purchase will allow it to engage in marble block extraction for the export of limestone.
Tasco said it is buying the tracts with a combined area of approximately 16 hectares (39.52 acres) for RM113.83 million, and Mils Gold Chain stake for RM29.93 million from Swift Integrated Logistics Sdn Bhd.
The proposed development will feature two blocks of medium-end apartments on land measuring 3.3ha, with an estimated gross development value of RM161.2 million.
Thriven said Thriven NCR will undertake to develop the proposed project on the pieces of land and to bear the cost to undertake the project. It will also carry out the marketing and selling of the affordable houses.
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