I-Bhd 2Q net profit up 5.6% on higher profit margin
I-Bhd said it expects the property development segment to continue to contribute positively to the group’s performance in the current financial year...
I-Bhd said it expects the property development segment to continue to contribute positively to the group’s performance in the current financial year...
“Within one year, we think the normal construction pace will come back. You will see work package contractors like us likely to benefit from the whole new system,” Pang said.
News reports quoted Damansara MP Tony Pua as saying no companies had responded to the Malaysian Government's tender request for the development of Bandar Malaysia.
At 11.27am, George Kent rose 11 sen or 8.53%, with 60.40 million shares traded.
The group is looking to achieve a higher sales target of up to RM500 million in FY18.
The property development will include a mix-development project with a total gross development value (GDV) of RM220.09 million.
SunCon’s outstanding order book currently stands at RM6.4 billion with 2.5 to three years of earnings visibility.
Wholly owned unit Gabungan Strategik Sdn Bhd has accepted the letter of award.
This follows the expiry of the last extended conditional period on May 26 whereby the conditions precedent as stated in the sale and purchase agreement (SPA) have not been fully complied with
"Barring any unforeseen circumstances, the disposal is expected to be completed by the second quarter of 2018."