Short-term rental ban in Penang has led to increase in property value, rental yield, says E&O
The ban on short-term rental in Penang has resulted in an increase in property values and rental yields, according to Eastern & Oriental Bhd (E&O).
E&O’s 2Q net profit surges to RM30m on higher revenue, absence of forex loss
Property developer Eastern & Oriental Bhd (E&O) has recorded a net profit of RM29.73 million in its second financial quarter ended Sept 30, 2023 (2QFY2024), a huge leap from the RM16,000 net profit posted a year ago, mainly due to enhanced revenue and absence of unrealised foreign exchange loss of RM19.9 million recognised in 2QFY2023.
Lagenda Properties' 3Q net profit up on improved sales conversion
Quarterly revenue rose 20.6% to RM217.89 million from RM180.72 million in 3QFY22, attributed to heightened construction activities and sales conversion from various projects.
LBS Bina secures 28.67MW solar power capacity from Energy Commission under CGPP
LBS Bina said that its subsidiary Setara Armada Sdn Bhd, in collaboration with MWG Power Sdn Bhd and Ocean Solar Energy Sdn Bhd as a consortium, had been selected as the solar power producer under the CGPP by the Energy Commission for the development of a 28.67MW solar power plant.
PM instructs DBKL to submit periodic reports on implementation of KL Structure Plan 2040
Prime Minister Datuk Seri Anwar Ibrahim has instructed the Kuala Lumpur City Hall (DBKL) to submit periodic reports within the next two weeks, on the implementation of decisions made pertaining to the Kuala Lumpur Structure Plan 2040 (KLSP 2040), in order to improve the ease of doing business in the city.
Kanger acquires another 15 units of Antara Genting Highlands Resort Suites for RM19.8m
Expanding its portfolio of investment properties, Kanger International Bhd has acquired 15 units of the proposed serviced apartments in Tower A of Antara Genting Highlands Resort Suites for RM19.77 million.
Fitters Diversified to gain RM12.35 million from Cameron Highlands land disposal
Fire protection equipment supplier Fitters Diversified Bhd is disposing of an 8.05-hectare freehold land in Cameron Highlands for RM15 million, with an estimated gain on disposal of RM12.35 million.
Penang Development Corp to fully refund Umech Land deposit
Penang Development Corp (PDC) will be required to fully refund the deposit paid by Umech Land Sdn Bhd amounting to RM64.60 million following the termination of the joint development agreement (JDA) for the development of Batu Kawan Industrial Park 2 (BKIP2).
UEM Sunrise takes back seat in the development of Medini's commercial zone
UEM Sunrise Bhd is disposing of a 6% stake in Nusajaya Lifestyle Sdn Bhd (NLSB), the developer and operator of the Mall of Medini, Iskandar Malaysia, to Iskandar Investment Bhd’s (IIB) unit Iskandar Harta Holdings Sdn Bhd (IHH), for RM8.92 million.
Minho acquires land in Kuala Selangor to build factories, warehouses
Timber manufacturer Minho (M) Bhd said it is acquiring a 7.84-hectare piece of freehold land in an industrial area in Kuala Selangor for RM18.41 million.
