Negeri Sembilan property developer Matrix Concepts Holdings Bhd posted record property sales of RM805.5 million last year, up 27.8% from RM630.2 million in 2014, driven by strong demand for properties in its Bandar Sri Sendayan township in Seremban and its Taman Seri Impian township in Kluang, Johor.
LTH said it had paid only 10.83% to one of its subcontractors for the Tabung Haji Complex due to delay in works completion.
Revenue for 2QFY16, however, came in 59.1% higher at RM105.28 million, from RM66.19 million in 2QFY15, as it recognised progress contribution from its 3Elements, Zone Innovation and Embun property projects.
“I am confident that we will do better in 2016 than last year because of the progress in construction works,” says deputy chairman Datuk Eu Hong Chew.
But growth likely to be impacted by 2018 due to slowdown.
The Department of Statistics said that there were a total of 10,230 projects in 4Q15, with quarter-on-quarter (q-o-q) increase of 4.5%.
The decision not to sell but to develop it, according to its chairman Datuk Seri Abdul Azeez Abdul Rahim, was made after considering the appreciation of the land's value since Tabung Haji bought the tract.
Ikhmas Jaya said its wholly-owned subsidiary, Ikhmas Jaya Sdn Bhd, had agreed and accepted the letter of award from Kayangan Kemas for the proposed project.
The land parcels come together with a three-storey hyper mall, as well as 1,242 car park bays and 1,236 motorcycle bays.
Ewein Bhd said its 60%-owned subsidiary, Ewein Zenith II Sdn Bhd, has entered into a sale and purchase agreement (SPA) with Consortium Zenith BUCG Sdn Bhd (CZBUCG) to acquire all the freehold land in Section 1, Bandar Tanjong Pinang free from all encumbrances and with vacant possession.
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