The group recorded a net profit of RM782.66 million for the financial year ended Dec 31, 2022 (FY2022), up 58% from RM495.85 million, on the back of 24% growth in revenue to RM1.46 billion from RM1.17 billion.
... alleging that over 20 parties comprising companies and individuals acting in concert have accumulated more than 33% equity stake without making a mandatory general offer.
GFM Services Bhd is spending RM9 million to take over a company that has been awarded the rights to develop a Rest and Service Area (RSA) along the Kuala Lumpur-Karak Expressway.
Scientex Bhd posted a 13.5% year-on-year growth in net profit for the second quarter ended Jan 31, 2023 (2QFY2023), driven by improving sales and steady construction progress in the group’s property development business.
Real estate developers are expected to face greater challenges this year with limited room to shift higher construction costs to customers whose purchasing power has been eroded by inflation and rising interest rates.
Prime Minister Datuk Seri Anwar Ibrahim: I welcome different opinions; I do not agree in principle with a special withdrawal of the people’s retirement savings. [But] I will ensure EPF allows contributors who have money yet facing financial difficulties to borrow from banks by using their EPF savings as collateral or guarantee
Bank Negara Malaysia (BNM) has decided to maintain its overnight policy rate (OPR) at 2.75%, as inflation is expected to moderate in 2023 with upward pressures remaining partly contained by price controls and fuel subsidies.
Putrajaya is seeking Parliament approval to convert some RM165.28 million government loan to UDA Holdings Bhd into equity investment, effectively forgiving these borrowings to the Ministry of Finance-owned property developer, according to motions filed to the Dewan Rakyat.
The highway's construction was temporarily halted previously due to rising construction costs.
... before being brought for further deliberation between the leaders of the two countries.
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