News by Tan Siew Mung

Hong Leong Investment Bank Research said in a note Genting's core loss after tax and minority interests (LATAMI) of RM296.9 million in the third quarter ended Sept 30, 2021 (3QFY21), which brought its 9MFY21 cumulative loss to RM998.1 million, was above its expectation as it expects Genting to be profitable in the next quarter.

Its revenue, however, fell 34.49% to RM388.24 million from RM592.63 million a year ago. 

Berjaya Land said it will seek leave from the Federal Court on the recent Court of Appeal (COA) decision to cancel its STC plan. This case for the company against the Selangor state government — that had gone through two administrations since this went to the courts — had been ongoing since 2016.

The Order & Collect service also halves customers' time spent in stores for shopping and helps them maintain their physical distancing.

“We are conducting technical rehearsals for employees and selected guests.”

"Downside risks: weak tenancy renewals, prolonged negative rental reversion, and a spike in Covid-19 infections,” said the report.

“Removing domestic restrictions will provide a strong boost to the retail and services sector due to higher food traffic in malls and other retail and food and beverage venues over the remainder of the year,” it said.

Last Friday, Gagasan Nadi Cergas said it had secured a contract from the Employees Provident Fund’s (EPF) wholly-owned subsidiary Kwasa Land Sdn Bhd to develop an affordable housing project in Selangor with a GDV of RM1 billion.

Gagasan Nadi Cergas said in a bourse filing that it has accepted the letter of award from Kwasa Land for the proposed development of two parcels of land in Kwasa Damansara Township, Petaling, Selangor with a total land size of approximately 39.12 acres

Revenue fell 50.39% to RM16.1 million from RM32.45 million.