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Glomac’s 3Q net profit nearly triples amid increased property development activities

Glomac’s 3Q net profit nearly triples amid increased property development activities

news

Updated:
  • Glomac Bhd's net profit surged to RM5.18 million in 3QFY2026, nearly tripling from RM1.95 million.
  • Revenue also nearly doubled to RM64.59 million, driven by strong property development contributions.
  • Group plans to launch new residential phases worth RM256 million, supported by a robust development pipeline.
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Master Tec Wire & Cable completes acquisition of 42.59-acre freehold land in Jasin, Melaka

Master Tec Wire & Cable completes acquisition of 42.59-acre freehold land in Jasin, Melaka

news

Updated:
  • Master Tec Group's subsidiary acquired 42.59 acres in Jasin, Melaka for RM10.2 million.
  • The purchase was funded by internal funds and bank loans, with a slight discount to market value.
  • This acquisition supports Master Tec's strategy to expand its property development and investment business.
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Zelan unit to transfer two Wisma Zelan office suites to MMC Engineering Sdn Bhd to settle RM5.22m debt

Zelan unit to transfer two Wisma Zelan office suites to MMC Engineering Sdn Bhd to settle RM5.22m debt

news

Updated:
  • Zelan Bhd's subsidiary has agreed to settle RM5.2 million in debts by transferring two office units.
  • The units will satisfy the debt upon registration, with a small balance covered by rental payments.
  • It is part of Zelan's regularisation plan after being classified as a PN17 issuer.
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Malaysia, Singapore fine-tune RTS Link co-located facility SOPs

Malaysia, Singapore fine-tune RTS Link co-located facility SOPs

news

Updated:
  • Negotiations between Malaysia and Singapore for the RTS Link project are progressing well.
  • The co-located concept allows enforcement agencies from both countries to operate in each other's territories.
  • The RTS Link is set to be operational by January next year, connecting JB and Singapore in just five minutes.
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KJTS to let JV take over KIP REIT malls contracts

KJTS to let JV take over KIP REIT malls contracts

news

Updated:
  • KJTS Group Bhd has signed an agreement for its joint venture to take over a contract for eight retail malls.
  • Lestari Cooling Energy will handle asset ownership and investment, while KJTS manages operations.
  • This structure reduces capital commitments and allows KJTS to pursue similar projects in the future.
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KPKT studying Option to Purchase to allow buyers to withdraw before signing SPA, curb abandoned housing

KPKT studying Option to Purchase to allow buyers to withdraw before signing SPA, curb abandoned housing

news

Updated:
  • The Housing and Local Govt Ministry is proposing an Option to Purchase clause to curb abandoned projects.
  • This clause allows buyers and developers to cancel commitments before signing the SPA.
  • The initiative aims to improve Malaysia's housing system and achieve zero sick projects by 2030.
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E&O completes RM691m The Meg in Andaman Island, Penang

E&O completes RM691m The Meg in Andaman Island, Penang

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Updated:
  • Eastern & Oriental Bhd has completed The Meg, its first project in Andaman Island, Penang.
  • The development aims to create a sustainable community for 30,000 residents by 2030.
  • E&O plans to enhance Andaman Island's vibrancy with new commercial offerings by 2027.
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PropNex Malaysia sets Asean and Asia records with largest paid real estate sales masterclass

PropNex Malaysia sets Asean and Asia records with largest paid real estate sales masterclass

news

Updated:
  • PropNex Malaysia set an Asean and Asia record for the Largest Paid Real Estate Sales Masterclass!
  • The event featured 803 participants and 23 millionaire speakers over three days in Kuala Lumpur.
  • The program has produced 54 millionaires, showcasing its effectiveness in real estate training.
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Pavilion REIT posts higher 1Q2026 DPU on stronger NPI growth

Pavilion REIT posts higher 1Q2026 DPU on stronger NPI growth

news

Updated:
  • Pavilion REIT reported strong 1Q2026 results with a 12.4% rise in distributable income to RM110.3 mil.
  • Gross revenue increased 7.8% to RM245.9 mil, driven by improved retail asset performance.
  • The REIT anticipates continued support from tourism campaigns and retail activations in the coming months.
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Glomac’s 3Q net profit nearly triples amid increased property development activities