At 10.07am, shares of BLand rose 11.5 sen to 83.5 sen, with 152,900 shares changing hands.
The group's four projects in the central region contributed RM1.579 billion, testament to the underlying strength and resilience of demand in the Klang Valley and its surrounding areas which, collectively, have the largest population base and highest per capita income levels in the country
Previously known as PFCE Bhd, the group had on Nov 12, 2015 received its second managing contractor agreement worth some RM147 million for the development of a three-storey shopping complex and a 12-storey three star hotel in Kemaman district, Terengganu.
Preliminary data for the second quarter of 2015 showed the Malaysian Housing Price Index registering 220.2 points, which indicates that the country's home values have more than doubled since 2000, according to the Economic Report 2015/16 released today.
Datuk Seri Fateh Iskandar Mohamed Mansor, president of the Real Estate and Housing Developers’ Association Malaysia, said there are concerns about a growing number of housing loan applications being rejected by banks for purchases of affordable homes of up to RM500,000.
The contract will see WCT taking on the proposed earthworks of Lifestyle Quarter for Phase 1 of the proposed mixed development at the Tun Razak Exchange in the heart of Kuala Lumpur.
Al-Salam REIT chief executive officer Datuk Kamaruzzaman Abu Kassim said the assets will be a combination of retail and offices within the vicinity of Kuala Lumpur and the state of Johor.
In a filing with Bursa Malaysia yesterday, BLand said its hotels and resorts businesses also reported lower profit contributions as well as higher finance costs in 1QFY16.
Under the new UEMS-RCPS agreement, UEMG agrees to subscribe for up to 793 million of the five-year UEMS-RCPS at an issue price of RM1 each for an aggregate sum of up to RM793 million, to be satisfied fully in cash.
The group’s revenue for the period grew 15.5% to RM123 million from RM106.5 million in 1QFY15, mainly due to steady construction progress in Glomac’s ongoing projects, namely Lakeside Residences, Saujana Rawang, Glomac Centro and Reflection Residences.