News by TheEdgeMarkets.com

Quarterly revenue declined 26.1% to RM233.09 million from RM315.41 million mainly due to lower recognition from the group’s industrial and commercial product

The 42-acre freehold Rimbun Aman comprises 304 units of single-storey link homes with built-up ranging from 971 sq ft to 1,135 sq ft. It is priced from RM350,000 and has a gross development value of RM125 million.

In a virtual briefing of E&O'S latest results, managing director Kok Tuck Cheong said that the two towers of serviced apartments located in Penang have been well-received with a take-up rate of 80% for block A of the project since its soft launch in January 2022.

In a Bursa Malaysia filing on Wednesday (Feb 23), the group said its quarterly revenue surged by 67.53% to RM4.11 billion from RM2.45 billion, fuelled by higher revenue reported by its plantation segment amid increase in crude palm oil (CPO) prices. 

In a Bursa Malaysia filing on Wednesday (Feb 23), the property developer said its quarterly revenue fell by 18.85% to RM496.34 million from RM611.64 million in 4QFY20.

Gamuda said in a statement on Tuesday (Feb 22) to Bursa Malaysia that GBSG and Wai Fong Construction have formed an unincorporated JV on a 60:40 basis respectively, under which GBSG  is the lead member for the design and construction of the planned Defu station and tunnels along Tampines Road.

This is despite revenue for the quarter slipping 7.88% to RM251.11 million from RM272.59 million in 4QFY20, according to the property developer’s filing on Tuesday (Feb 22). 

In a statement on Tuesday (Feb 22), NCT Alliance executive chairman and group managing director Datuk Seri Yap Ngan Choy said key contributors to the group's improved quarterly performance were the sales from its Grand Ion Majestic and Grand Ion Delemen (GID) projects, coupled with recurring income from the leasing of its commercial units at GID.

In a Bursa Malaysia filing on Tuesday (Feb 22), the group said the proposed acquisition is in line with the fund’s investment objectives and growth strategy to provide the unitholders with stable income distribution and to achieve growth in the net asset value (NAV) per unit of Axis REIT, by acquiring high-quality, earnings accretive properties with strong recurring rental income.

In a press release on Tuesday (Feb 22), Kerjaya Prospek said its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd has accepted a letter of award (LOA) from Nikmat Merpati Sdn Bhd and that the project is expected to be completed in 53 months from its commencement date in June 2022.