The Borneo Post, quoting Sarawak’s Assistant Minister of Local Government and Housing Datuk Dr Penguang Manggil, reported today that the community leaders and longhouse chiefs yesterday accepted IOI Corp’s offer to return the land in Long Teran, Long Labing and Long Lapok from the provisionally-leased area under its unit Pelita Plantantion Sdn Bhd in Tinjar.
He was the minister of housing and local government, deputy minister of home affairs and deputy minister of finance between 2008 and 2013.
The recent raw material cost hike and sudden surge of freight cost due to the global shortage of shipping containers also led to lower operating profit of RM63 million, compared with RM65.2 million a year ago, the group said.
The group said in a bourse filing that its wholly-owned subsidiary Teras Eco Sdn Bhd had entered into a sale and purchase agreement with Pegasus Advance Engineering Sdn Bhd for the disposal of a parcel of land located at Tanjung Surat, Kota Tinggi measuring approximately 3.239 acres.
Analyst Wong Wei Sum: Judging from the sales momentum in early 2021, most developers expect a better sales outlook in FY21 though it may be coming at the expense of lower margins on lower pricing
"We think BNM will likely stay on hold throughout 2021.”
While the reimposition of containment measures will affect growth in the first quarter, BNM said the impact is expected to be less severe than that experienced in the second quarter of 2020.
The 45 Covid-19 positive cases were detected when PESB screened all its employees, both local and foreign, at the said manufacturing facility recently.
The group said its total new property sales for the period ended Dec 31, 2020 was approximately RM383.61 million.
The affected factories will resume operations on Feb 18 or earlier.
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