Sime Darby Property Bhd (SDP), whose share price jumped to a four-year high following its FY2023 earnings released earlier on Friday, said the weakening of the ringgit could impact its profit margins due to higher costs of raw materials.

Eco World International Bhd, which mainly develops real estate in the United Kingdom and Australia, said it aims to clear its inventory worth RM850 million and distribute excess cash for the financial year ending Oct 31, 2024.

Prime Minister Datuk Seri Anwar Ibrahim on Friday announced incentives for companies relocating their bases to the country’s new international financial centre (IFC), the Tun Razak Exchange (TRX) here.

Sime Darby Property Bhd’s net profit for the fourth quarter ended Dec 31, 2023 (4QFY2023) rose 27.25% to RM131.26 million from RM103.15 million a year earlier, thanks to strong top line contributions and higher profit from the property development segment.

Pintaras Jaya Bhd has been awarded eight piling contracts in Singapore worth a total of RM170 million since August 2023.

Infrastructure and construction company Ekovest Bhd is disposing of 13 parcels of land measuring a total of 12,400.139 sq m in Section 85 along Jalan Pahang here to Airman Sdn Bhd, a wholly-owned subsidiary of Lim Seong Hai Holdings Sdn Bhd (LSHHSB), for RM66.8 million.

YTL Corp Bhd net profit in the second quarter ended Dec 31, 2023 (2QFY2024) rose six-fold to RM589.21 million from RM96.91 million a year ago, lifted by stellar results from listed units YTL Power International Bhd and Malayan Cement Bhd.

Property developer Eastern & Oriental Bhd (E&O) is in talks with banks to finalise the mechanism to raise between RM1 billion to RM1.5 billion for the development of its 760-acre Andaman Island project in Penang.

The group also generated a revenue of RM28.27 million in in the quarter.

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