The controlling shareholders of property developer Magna Prima Bhd are understood to be looking to hive off a large stake of about 30% in the company, sources say.

 The property market in Setapak consists mainly of mass-market condominiums and apartments.

The recently announced tender schedule for the estimated RM30 billion Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya Line (SSP Line), or MRT2, promises exciting times for the construction sector over the next few months.

Setapak has an abundance of high-rise residences, most of which are priced to target the middle class.

Year-on-year (y-o-y) earnings growth was largely supported by additional contributions from its new assets and improved profits from Gurney Plaza and East Coast Mall. However, we remain cautious about Sungei Wang Plaza (SWP), which could limit near-term earnings.

James Tee is the author of Malaysian Real Estate Industry – Value Creation Strategies.

Since its emergence in the 1950s, the internet has grown into a juggernaut, changing the way we do practically everything, from finding a partner to buying everyday items like groceries and electronic appliances.

This week, the spotlight falls on the secondary market of non-landed residences in one of Kuala Lumpur’s oldest suburbs, Setapak. Areas covered span from Taman Melati at the north and bounded by the Duta-Ulu Kelang Expressway (DUKE) at the south.

Ignorance is no excuse.

MK Land Holdings Bhd’s unbilled sales are now at RM150 million from RM200 million previously.