News by theedgemarkets.com

Berjaya Land Bhd (BLand) reported a higher net loss of RM133.44 million in the fourth quarter ended June 30, 2022 (4QFY22) up 5.61% from RM126.34 million a year ago, due to provisions it made to impair the balance proceeds of a mall it sold in China, which it feared it might not be able to collect.

YTL Corp Bhd returned to the black in the fourth quarter ended June 30, 2022 (4QFY22) with a net profit of RM8.68 million, compared with a net loss of RM407.48 million in 4QFY21, on the absence of impairment losses under its property business, while contribution from its utilities business strengthened.

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.