News by justin Lim

Speaking on the group's outlook at the launch of Pantai Sentral Interchange, its chief executive officer (CEO) and managing director Datuk Soam Heng Choon said "this is time for consolidation", as the construction sector is facing slowdown due to fewer jobs from the government and the property market softens.

JAKS expects the growth as it recognises construction earnings from the engineering, procurement and construction (EPC) contract for its coal-fired thermal independent power plant project in Vietnam.

Planned launches comprise the Phase 1 of Damaisuria @ Subang, which carries an estimated GDV of RM180 million, Phase 2 of 3rdNvenue @ Embassy Row, which has an estimated GDV of RM338 million and Phase 1 of Riveria City @ KL Sentral, worth RM320 million.

The group is now eyeing a slice of the record RM11.91 billion budget the Sarawak state government is planning to spend, the bulk or some RM9.07 billion of it for development.

The project, also known as the Duta-Ulu Kelang Expressway (DUKE) Phase-3 project, is currently 50% complete, and the group is committed to complete the project as scheduled.

“These comprise the second phase of commercial shoplots at Tropicana Aman in Kota Kemuning; the fourth landed residential phase at Tropicana Heights, Kajang; and a new commercial phase at Tropicana Metropark, all expected to contribute positively to the group’s earnings for the coming years,” it said in a statement yesterday.

MBSB said its gross loans and financing for 3QFY18 declined 0.6% year-on-year, mainly due to the proposed sale of personal financing, property financing and mortgages in 4QFY17 that amounted to RM1.51 billion.

Of the state's total budget, RM9.073 billion — including a federal fund of RM260 million — will be allocated for development expenditure.

"China Ouhua will proactively follow up with the relevant government authorities of the People's Republic of China to ensure the land title ownership is transferred to Yantai Ouhua.”

Sunway REIT is proposing a first interim income distribution of 2.48 sen per unit, amounting to RM73.038 million for 1QFY19, payable on Dec 4.