News by TheEdgeMarkets.com

Malaysia Building Society Bhd’s (MBSB) second quarter net profit slipped 64.7% to RM142.3 million, from RM403.4 million a year ago, due to higher operating expenses (opex) and net impairment allowance.

Tropicana Corp Bhd's net loss for the second quarter ended June 30, 2022 (2QFY22) widened to RM61.55 million from RM25.05 million a year ago, due to lower progress billings across key projects in the Klang Valley and southern region as most of its projects were in the early to mid stages of construction.

UEM Sunrise Bhd, which turned a net profit of RM20.7 million in the second quarter ended June 30, 2022 (2QFY22), is cautiously optimistic of achieving its sales target of RM1.5 billion.

Developed via a joint venture (JV) between Permodalan Nasional Bhd (PNB) through its indirect wholly-owned subsidiary MIDF Property Bhd; KWEST Sdn Bhd, a wholly-owned subsidiary of Kumpulan Wang Persaraan (Diperbadankan) (KWAP); and AREA Group of Companies, through their subsidiary AREA Industrial Development Holdings Sdn Bhd, the industrial development is a 220-acre freehold, green certified project with a gross development value of RM1.2 billion.

Eupe Corporation Bhd said it expects its financial results to rebound by the year ending Feb 29, 2024 (FY24), noting that its current project development pipeline is double pre-pandemic levels.

Vizione Holdings Bhd is buying property development company Midlands City Sdn Bhd for RM38 million cash in a related party transaction.

Sunway Bhd’s net profit for the second quarter ended June 30, 2022 (2QFY22) jumped 140% to RM168.88 million from RM70.52 million in 2QFY21, boosted by strong operating contributions from most business segments.

UEM Sunrise Bhd made a profit of RM20.7 million or 0.41 sen per share in the second quarter ended June 30, 2022 (2QFY22), on higher revenue and improved operating profit margins.

Sunway Construction Group Bhd's (SunCon) net profit for the second quarter ended June 30, 2022 (2QFY22) jumped threefold to RM32.3 million from RM8.32 million a year earlier, due to a low base and higher revenue from all segments.