News by theedgemarkets.com

Gamuda said in a statement on Tuesday (Feb 22) to Bursa Malaysia that GBSG and Wai Fong Construction have formed an unincorporated JV on a 60:40 basis respectively, under which GBSG  is the lead member for the design and construction of the planned Defu station and tunnels along Tampines Road.

This is despite revenue for the quarter slipping 7.88% to RM251.11 million from RM272.59 million in 4QFY20, according to the property developer’s filing on Tuesday (Feb 22). 

In a statement on Tuesday (Feb 22), NCT Alliance executive chairman and group managing director Datuk Seri Yap Ngan Choy said key contributors to the group's improved quarterly performance were the sales from its Grand Ion Majestic and Grand Ion Delemen (GID) projects, coupled with recurring income from the leasing of its commercial units at GID.

In a Bursa Malaysia filing on Tuesday (Feb 22), the group said the proposed acquisition is in line with the fund’s investment objectives and growth strategy to provide the unitholders with stable income distribution and to achieve growth in the net asset value (NAV) per unit of Axis REIT, by acquiring high-quality, earnings accretive properties with strong recurring rental income.

In a press release on Tuesday (Feb 22), Kerjaya Prospek said its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd has accepted a letter of award (LOA) from Nikmat Merpati Sdn Bhd and that the project is expected to be completed in 53 months from its commencement date in June 2022.

The Grade II* listed building will house over 100 shops, restaurants and cafes, an events venue, a unique chimney lift experience offering 360-degree panoramic views of London’s skyline, new office space and 254 new residential apartments.

In a trading stocks note today, the research house said if the bullish momentum persists above that level, the stock may climb towards the next resistance level of 56 sen, followed by 59 sen.

In a statement, Mah Sing chief executive officer of property subsidiaries Benjamin Ong said that the encouraging response from Erica Phase 1 showed that landed properties are still in high demand. It also proved that demand for affordably priced and good quality products in strategic locations will remain strong.

The group said the acquisition, which is expected to be completed by the second quarter of 2022, will enable it to diversify and tap into the water infrastructure construction works, which it noted are complementary to its existing property development business and CHCSB's construction business.

Quarterly revenue slipped 5.83% to RM41.38 million, from RM43.95 million a year earlier, primarily due to lower contributions from the group's gaming and property investment business segments.