News by Tan Xue Ying

Hap Seng said the proposed disposals are in line with the group’s strategy for disposing of parcels of land located in non-strategic locations without immediate development potential.

Its managing director said the group is confident of securing at least 10% to 20% of some RM2 billion worth of government solar jobs to be awarded next year given its acquired expertise.

Anwar said the US investment bank should return “significantly more” than the US$600 million it gained in fees from Putrajaya for arranging the three bond sales for the state fund.

The group executive chairman said he believes the target is achievable, given the group’s strong balance sheet and workmanship, which he said boost tender success rate.

At a briefing here today, its executive chairman Datuk Tee Eng Ho said he views the market next year to remain challenging but believes the target is achievable given the group's strong balance sheet and good workmanship, which helps with a higher tender success rate.

A-Rank said the property development business may contribute 25% or more of the group's net profits, therefore enhancing its prospects moving forward.

"Prime Minister Dr the Honourable Timothy Harris’ administration took the decision, out of an abundance of caution, to deactivate Jho Low’s St Kitts and Nevis passport through Interpol in June.”

Other direct tax collection such as stamp duties and real property gains tax (RPGT) are estimated to increase by RM500 million, reflecting higher property market values.

"Our overseas investments are doing well. In China, our last launch (in September) was almost fully sold out within a day. So we're quite confident our new launches in China going forward will receive very positive response."

Analysts believe sacrificing profit margin is still preferable to contract termination.