The construction player, who diversified into the property sector last year, intends to undertake three residential development projects in the country with a projected total gross development value (GDV) of RM728 milllion
Mah Sing said it plans to develop serviced residences, office towers, shop offices, retail lots, a retail mall and a hotel on the land.
IGB REIT said the distributable income, which translates to a distribution per unit (DPU) of 2.18 sen per unit
Revenue for the quarter improved 3.6% to RM312.3 million from RM301.5 million last year, underpinned by higher revenue recognition across key projects and proceeds from land sales
The recognition of an employee benefit expense of about RM11 million arising from the granting of option shares to eligible employees under an Executives Share Option Scheme also eroded its earnings, the group said in a filing with Bursa Malaysia today.
YTL Corp attributed the decline in quarterly net profit to lower contributions from information technology and e-commerce-related business, cement manufacturing and trading, property investment and development, hotels and utilities.
Sunway said the special cash dividend arose from the proceeds raised from the offer for sale of 398.71 million Sunway Construction Group Bhd (SunCon) shares offered by Sun Holdings, in conjunction with the listing on July 28 this year, after setting aside for listing expenses and working capital.
Lee, who has 32 years of experience in property development, founded Matrix Concepts in 1997. Since then, he has steered and led the group for 18 years.