News by Syahirah Syed Jaafar

The partners had initially agreed to jointly undertake the development of The City of Dreams 2 on a plot of land in Penang.

Moving forward, the group said it believes that there will still be demand for properties in prime locations with attractive pricing.

This will be the second retrenchment exercise for the media group after the retrenchment of 543 staff at Media Prima’s publication group New Straits Times Press (NSTP) last March.

This was despite revenue rising 2% to RM741.41 million, from RM727.22 million previously.

The property developer said the mandatory closure of all its sales galleries and construction sites throughout the MCO period affected earnings, with revenue falling 36.4% to RM345.4 million from RM543.18 million a year ago.

The improved performance in the logistics and warehousing services segment supported the group’s annual earnings. It returned to the black with a net profit of RM719,000 for FY20 as compared with a net loss of RM1.4 million previously.

In a joint statement today, DAP and Amanah thanked PKR for naming PKR president Anwar as its choice for the Prime Minister’s post, but questioned the party’s decision to not consider Dr Mahathir as the second option.

Earnings per share fell to 0.28 sen from 0.8 sen, the group's filing with Bursa Malaysia showed.

However, Resorts World Genting and Resorts World Awana will remain closed until further notice, Genting Malaysia said in a statement on its website.

This follows the government’s announcement in its Economic Recovery Plan on June 5 to exempt sales tax of 100% for locally assembled passenger vehicles, and 50% for imported passenger vehicles purchased during the period.