UOA Development’s 4Q profit surges on revaluation gains

UOA Development’s 4Q profit surges on revaluation gains

news

Updated:
  • UOA Development Bhd reported a 50.3% increase in 4Q net profit to RM192.76 million, despite a revenue drop.
  • The company booked a revaluation surplus of RM169.2 million on investment properties.
  • For the full year, net profit rose 65% to RM474.04 million, with new property sales reaching RM672.9 million.
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Chow: State govt not involved in Mutiara Line LRT Package 2 contractor selection

Chow: State govt not involved in Mutiara Line LRT Package 2 contractor selection

news

Updated:
  • The Penang government is not involved in selecting the contractor for the Mutiara Line LRT project.
  • Chief Minister Chow Kon Yeow stated that evaluations are ongoing and no offers have been made yet.
  • Additionally, he addressed water concerns, suggesting measures to manage the declining levels in Sungai Muda.
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Cahya Mata Sarawak posts lower FY2025 profit on Oiltools slump and Phosphates costs, but property arm surges 50% on convention centre contract

Cahya Mata Sarawak posts lower FY2025 profit on Oiltools slump and Phosphates costs, but property arm surges 50% on convention centre contract

news

Updated:
  • Cahya Mata Sarawak Bhd reported a 48.8% profit drop to RM65.7 million for FY2025 due to losses in Oiltools.
  • Revenue fell 7.3% to RM1.11 billion, but the Property Development SBU saw a 49.8% revenue surge from BCCK 2.
  • The group anticipates a recovery in FY2026, driven by the Phosphates plant and ongoing construction projects.
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Johor’s proximity to Singapore remains key to drive data centre investments, credit rating firm director says

Johor’s proximity to Singapore remains key to drive data centre investments, credit rating firm director says

indepth

Updated:
  • Johor's location near Singapore boosts data centre investments despite rising costs, says Ng Yijing.
  • Land availability and extensive subsea cables keep Johor competitive, even as costs rise.
  • Policy changes are steering development towards higher-tier data centres, easing oversupply concerns.
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Battersea Power Station lines up immersive art and family activities for May half-term

Battersea Power Station lines up immersive art and family activities for May half-term

news

Updated:
  • Battersea Power Station will host immersive art installations from May 23 to 31, including Luxart.
  • Interactive A Line Florist installation by Anna Bruder allows visitors to create personalised flower artworks.
  • The riverside area will feature markets and attractions, including shops, restaurants, and a glass elevator.
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PRG's construction arm takes 12 Picasso Residence units to partially recover RM37 mil debt

PRG's construction arm takes 12 Picasso Residence units to partially recover RM37 mil debt

news

Updated:
  • PRG Holdings' subsidiary will accept 12 condo units as partial payment for a RM37.17 million debt.
  • The units, valued at RM13.73 million, will help recover outstanding construction fees owed by the developer.
  • The settlement is expected to finalise in 2Q2026, with no cash outlay required from PRG.
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MACC seizes properties worth RM18.4m in NGO fund probe

MACC seizes properties worth RM18.4m in NGO fund probe

news

Updated:
  • The Malaysian Anti-Corruption Commission seized assets worth RM18.36 million in a fund misappropriation case.
  • This includes 14 properties, such as seven residential units and three office units.
  • Two men, including the NGO's deputy chairman, have been arrested to assist with the investigation.
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Rehda Institute kicks off RIYI mentorship programme on April 25

Rehda Institute kicks off RIYI mentorship programme on April 25

news

Updated:
  • The Rehda Institute will launch its Youth Initiative (RIYI) mentorship program on April 25.
  • This programme pairs students with industry professionals to enhance skills and employability.
  • RIYI gives students direct access to decades of senior management experience.
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Tanco's Midports switches to port concession model for RM5 mil/month Port Dickson smart container port

Tanco's Midports switches to port concession model for RM5 mil/month Port Dickson smart container port

news

Updated:
  • Tanco Holdings Bhd is restructuring its "Smart AI Container Port" project in Port Dickson.
  • The new Port Development Concession model replaces the previous lease arrangement.
  • This change is not expected to impact Tanco's finances immediately but may affect long-term profits.
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347 houses handed over under Baiti Jannati Programme in Federal Territory, says Yeoh

347 houses handed over under Baiti Jannati Programme in Federal Territory, says Yeoh

news

Updated:
  • A total of 347 housing units have been delivered under the Baiti Jannati Programme in Kuala Lumpur.
  • Aimed to improve living conditions for underprivileged families, with units costing around RM50,000 each.
  • Minister Hannah Yeoh emphasised the importance of collaboration to ensure families have stable homes.
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UOA Development’s 4Q profit surges on revaluation gains