Sunway returns to profit in 3Q as business ops resume after movement restrictions lift
Almost all business segments registered improved profit contributions, the group noted, except for its property development and other segments.
Parkson 1Q net losses narrow on sales recovery in China and Malaysia
The group explained the lower revenue was on account of Covid-19 hitting footfall and purchases at its stores in Malaysia, Indonesia and Vietnam.
UEM Sunrise’s 3Q losses narrow on greater construction activities and higher sales
UEM Sunrise posted a net loss of RM144.17 million for the nine months ended Sept 30, 2020, compared with a net profit of RM97.56 million in the same period last year.
IGB reverses losses in 3Q on higher contributions from business segments
In a bourse filing, IGB attributed the better earnings to higher contributions from its retail property investments, commercial property investments and hotel and investment divisions.
TA Enterprise and TA Global sink deeper into the red with bleeding hotel division
In a bourse filing, TA Enterprise said quarterly loss increased to RM65.76 million in 3QFY20 from RM14.94 million in net loss seen in 3QFY19.
TNB sues IWCity for RM77m over damage to undersea cables
TNB is alleging that IWcity and TBCSB had encroached and trespassed on a part of TNB’s transmission main intake and the right-of way/easement of its undersea cable project in October 2013.
TCS to acquire 25% stake in construction company for RM30m, plans free warrants
The acquisition, which comes with a profit after tax (PAT) guarantee of not less than RM20 million per year from financial year ending Dec 31, 2021 (FY21) to FY23, will be undertaken via the issuance of 60 million new shares at 50 sen apiece to Super Advantage Sdn Bhd, who is selling the stake in SSSB to TCS.
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Builders the key beneficiaries of Budget 2021, but little interest seen
Gamuda Bhd, Sunway Construction Group Bhd (SunCon), IJM Corp Bhd and Malaysian Resources Corp Bhd (MRCB) are expected to be among the beneficiaries.
Budget 2021 addresses needs of rakyat, businesses amid Covid-19, say
Bursa Malaysia chairman Tan Sri Abdul Wahid Omar characterised Budget 2021 as an “expansionary and holistic budget” that is appropriate with current priorities for the rakyat’s wellbeing.
Budget 2021 no help to tourism sector, say hotel and travel agent groups
The Malaysian Association of Hotels (MAH) said the tourism and hotel industries are deeply concerned with the lack of immediate assistance to stakeholders suffering from reduced cash flow due to both domestic and international travel restrictions.
