News by Adela Megan Willy

IOI Properties’ overall new property sales in the second quarter (2Q) of FY2017 rose to RM795 million, from RM731 million in 1QFY2017, bringing 1HFY2017 sales to RM1.5 billion.

In a note today, AmInvestment said IOI 1HFY2017 core net profit had beaten forecast on better-than-expected plantation earnings before interest and taxes (Ebit) margin.

Wong Engineering said it will leverage, among others, on major shareholder and managing director Yong Loy Huat’s expertise and experience to tender for construction and property development projects, as well as supply construction materials for these projects.

Sarawak-based engineering and construction group Hock Seng Lee Bhd (HSL) is all out to cater to the rising demand for affordable housing in the state’s major urban centres, especially Kuching.

Tanco Holdings said the price was arrived at on a “willing buyer and willing seller” basis. The disposal, it said, would provide the group with an avenue to unlock and realise the value of the properties.

PLB Engineering Bhd is disposing of a piece of freehold agriculture land in Kulim, Kedah, to Tiong Nam Logistics Solutions Sdn Bhd for RM9.63 million.

Advance Information Marketing Bhd (AIM) has decided not to proceed with the purchase of an arcade shoplot unit in Kota Kinabalu, Sabah from private property developer Sunsea Development Sdn Bhd.

Sarawak-based property developer Ibraco Bhd, known for its range of upscale residential and commercial property projects, is recalibrating its product portfolio to include more affordable housing.

The 367-room hotel, which will be constructed by Golden Wave, is expected to be completed by 2021.

The project will be completed within 15 months from the date of commencement.