News by THEEDGEMARKETS.COM

UOA attributed the lower revenue largely to lower progressive recognition in the current quarter due to the Covid-19 pandemic that halted the construction progress during the MCO and conditional MCO period.

"The performance of property development segment declined significantly from a profit of RM4.8 million in the preceding quarter to a loss of RM94.4 million in current quarter. Property investment segment registered a loss of RM5.0 million as compared to a profit of RM0.5 million in the preceding quarter.”

According to MB World's Bursa filings today and yesterday, Bursa will suspend trading of securities in MB World from Sept 2, with the date being the expiry of five market days from the final closing date of the voluntary takeover offer by joint offerors Kim Feng Capital Sdn Bhd, NgSinar Sdn Bhd and Ng Kok Boon at 99 sen a share.

Initially, the hearing of the application by Musa and the 32 former assemblypersons for a stay was fixed for today.

The group said it will pay RM1.10 per sq ft, or a total of RM29.86 million, for the land measuring 623.07 acres in aggregate.

With the strong underlying drivers for logistics properties, some 81% of survey respondents plan on increasing their exposure to this sector by end-2021

An auditor from KPMG accused of "unprofessional conduct" for refusing to furnish accounts and information relating to 1Malaysia Development Bhd (1MDB) has secured leave from the High Court to challenge the decision made by disciplinary appeal board of the Malaysian Institute of Accountants (MIA).

The parcel of land is surrounded by amenities and is strategically located eight minutes away from Bandar Bukit Tinggi, and about 10 minutes away from the Klang town city centre.

While there were also requests for a bigger amount of aid, DM Analytics managing director Muhammed Abdul Khalid said many low-income households surveyed wanted assistance that can have a more lasting impact on their livelihoods, such as equipment to start a burger stall, a place to sell goods or a microloan to start their own business.

In a bourse filing yesterday, Paramount said on the back of lower revenue, the property division recorded a pre-tax loss of RM2.8 million for 2QFY20 compared with a pre-tax profit of RM41.2 million in 2QFY19, mainly due to lower construction activities and sales achieved.