Group notes rebound in sub-RM600,000 portion of market.
Razor-thin margins, volatile material costs, labour shortage are said to make large projects untenable…
According to sources, a large local fund has been in talks with E&O on taking up an equity stake in the sea-fronting development project near Penang island. The project, Phase 2A, involves reclaiming 253 acres (102.38ha) of land, which has an estimated gross development value of RM20 billion.
It only takes one bad quarter to spook investors. After posting a 20% drop in first-quarter net profit, Gadang Holdings Bhd saw its share price fall almost 13% from a record high of RM3.38 two days earlier.