News by THEEDGEMARKETS.COM

Earnings per share for the quarter ended Dec 31, 2019 (4QFY19) rose to 20.67 sen, from 7.92 sen previously.

It also saw lower work progress from the Langat Sewerage project.

The higher net profit was despite a 6.83% decline in revenue to RM1.35 billion during the quarter, from RM1.45 billion, due to lower contributions from its other divisions.

The property comprises 15 contiguous units of four-storey terrace blocks, a single storey auditorium and 18 units of shop offices and a car park area.

This is because they do not agree with Dr Mahathir's proposal to form a unity government, which will include DAP.

The group expects the ongoing construction of the Setiawangsa-Pantai Expressway, River of Life beautification packages, as well as toll revenue and the sales of completed properties units, to contribute positively to the group's turnover and profitability in FY20.

He has been with the family business since 2008, with management exposure into the property development, construction, finance and oil and gas industry.

In a bourse filing today, IOI Properties said operating profit of its property development segment fell 30% year-on-year in 2QFY20, mainly due to lower revenue contribution from its Johor and China operations.

Among those in attendance were Gabungan Parti Sarawak (GPS) chairman Datuk Patinggi Abang Abdul Rahman Zohari Abang Openg, Parti Pribumi Bersatu Malaysia (Bersatu) president Tan Sri Muhyiddin Yassin, PKR president Datuk Seri Anwar Ibrahim, DAP secretary-general Lim Guan Eng, Umno president Datuk Seri Zahid Hamidi, PAS president Datuk Seri Abdul Hadi Awang and Parti Amanah Negara president Mohamad Sabu.

Trading volume swelled to 86.63 million shares, making it the most actively traded counter on Bursa Malaysia. In comparison, its 200-day average volume is only 3.84 million shares.