Glomac Bhd’s net profit jumped by over 800% to RM3.81 million for its third quarter ended Jan 31, 2024 (3QFY2024), from RM419,000 a year earlier, driven by higher revenue from its property development and property investment business.

The development is targeted for vacant possession (VP) in 1Q2025, which is about six months ahead of schedule from its initial expected completion date in 2Q2025. 

The summit also saw senior business leaders from China, Malaysia and Cambodia welcoming the newly launched Cambodia Malaysia China (CMC) High-Tech Park.

Net profit for the three months ended Jan 31, 2024, rose to RM141.01 million from RM106.29 million a year earlier.

CIMB Securities Sdn Bhd said that tender activities for Phase 1B of Sabah Pan Borneo Highway seem to be picking up with the award of several new contracts.

Revenue more than doubled to RM155.37 million from RM73.78 million in 4QFY2023.

The contract period will be 19 months, commencing from March 2024 with the expected completion by October 2025. 

Real Estate and Housing Developers Association (Rehda) Selangor, which aims to make homeownership accessible for all homebuyers in Klang Valley, expects at least RM350 million in sales at the upcoming Malaysian Property Expo (Mapex) Selangor 2024.

Co-working and flex space provider WORQ launched its eighth outlet at Sunway Putra Mall in Kuala Lumpur on Monday. The outlet has achieved 100% occupancy since its opening in January this year.

EcoFirst Consolidated Bhd is alleging that its former directors had conspired with Kerjaya Prospek Group Bhd in the award of a RM404.35 million residential development project in June last year, which was subsequently terminated in November.