News by TheEdgeMarkets.com

Sime Darby Property Bhd's net profit declined by 21.51% to RM51.84 million for the first quarter ended March 31, 2022 (1QFY22) from RM66.04 million in the same quarter last year.

A Bursa Malaysia filing on Tuesday (May 24) showed that quarterly revenue slid by 4.07% to RM10.57 billion compared to RM11.02 billion a year prior.

In a filing with Bursa Malaysia on Monday (May 23), the group said its wholly-owned subsidiary SCIB Properties Sdn Bhd has accepted a letter of award and acceptance for the engineering, procurement, construction and commissioning contract.

"The proposed acquisition is in line with the group’s business expansion objective and growth strategy in accumulating new suitable land to be included in the group’s landbank and to scale up its property development portfolio to generate additional streams of income for the group moving forward," said EUPE.

Revenue came in at RM867.1 million, 17.64% less than the RM1.05 billion it recorded in 1QFY21, its bourse filing showed.

SkyWorld Development Group Sdn Bhd unveiled the country's highest residential skybridge in SkyAwani 3 Residences on May 20. According to the developer, the skybridge measures 550m long and is located across three interconnected towers on level 52. This allows residents to enjoy unobstructed views of the Kuala Lumpur city centre skyline.

Earnings per unit rose to 2.96 sen from 0.94 sen a year earlier, Sunway REIT informed Bursa Malaysia on Wednesday (May 18).

Encorp group chief executive officer Hazurin Harun said the venture will be the group's first property development in Sabah as part of its expansion plan.

Earnings per share rose to 1.45 sen from 1.33 sen previously, according to the property developer’s bourse filing on Wednesday (May 18).

Under the partnership, Affin Bank will be offering up to RM300 million worth of end-financing for OSK Property's homebuyers. Existing Affin Bank customers will also enjoy a special freebie by purchasing any properties under OSK Property.