News by Syahirah Syed Jaafar

Berjaya Corp Bhd (BCorp) reported a 44% year-on-year rise in net profit in the second quarter of financial year 2017 (2QFY17), largely due to improved contribution from its property investment and development business segment.

The lower revenue was mainly because of lower revenue from its construction and property divisions, the effects of which were mitigated by toll rate hikes on certain expressways which boosted topline and profit before tax (PBT) in its water and expressway concessions division.

It is playing catch-up in the final quarter of the year with more launches after the slow nine months, which should raise the value of its launches to about RM450 million...

Eco World Development Group Bhd (EcoWorld) reported a net profit of RM29.35 million or 1.21 sen per share in the fourth quarter of financial year 2016 (4QFY16), a 49% increase from RM19.69 million or 0.83 per share reported in the last quarter of the preceding year.

Instead, it will competently manage properties in its portfolio.

The acquisition is being made through Tiara Land Pte Ltd, an indirect 50% associate company. The vendor is National Aerated Water Company Ltd.

MRCB Quill Management Sdn Bhd, the manager of MRCB-Quill Real Estate Investment Trust said it is open to acquiring new assets in the future and will look into the potential of injecting Menara Celcom in Petaling Jaya from one of its sponsors, Malaysian Resources Corp Bhd.

MBSB president and CEO Datuk Ahmad Zaini Othman: At the end of the day, in any corporate exercise, it’s all about the pricing. If the pricing is right, then I suppose it’ll be okay.

About 39.4% of the order book came from the group's traditional stronghold in the Middle East region, 25.1% from Southeast Asia, 20.2% from India and the remaining 15.3% is from the oil and gas segment.

Managing director Datuk Kevin Woo told reporters that the company is in the midst of building a healthier balance sheet, paving the way for a listing on the local stock exchange.