News by Hailey Chung

Eastern & Oriental Bhd (E&O) posted a net profit of RM32.95 million for the first quarter ended June 30, 2023 (1QFY2024), from a net loss of RM1.65 million a year ago, on the back of improved revenue.

Earnings per share was 5.16 sen versus 3.76 sen previously. 

Property prices of high-rise projects and rental rates at shopping malls in the Johor Bahru city centre are now close to rates in the Klang Valley, driven by the effect of the Johor Bahru-Singapore Rapid Transit System (RTS) Link and a strong Singapore dollar.

Kerjaya Prospek Group Bhd saw a 10.6% increase in net profit to RM31.57 million for its second quarter ended June 31, 2023 (2QFY2023), from RM28.54 million a year earlier, as the construction outfit posted a record quarterly revenue for 2QFY2023.

This was because the builder could not come to an agreement with Global Marine Sdn Bhd, from whom it secured the project, on the terms and conditions of the final definitive agreement for the job.

Kuala Lumpur Kepong Bhd's (KLK) property arm is expected to contribute higher earnings to the group in three years, due to future launches and sales at its Bandar Seri Coalfields (BSC) retail mall, while the revival of the Kuala Lumpur-Singapore High Speed Rail (HSR) may be a boon to its Johor developments, said Maybank Investment Bank.

Property developer SkyWorld Development Bhd made a flat debut on Main Market of Bursa Malaysia on Monday (July 10) with an unchanged open price from its initial public offering (IPO) price of 80 sen.

... for Phase 6 of a proposed housing development containing 35 single-storey terraced house units in Jajahan Bachok, Kelantan.

Hextar Technologies Solutions Bhd (HexTech), which has been in search of an IT business for months, is now selling land to entities that are partly owned by its controlling shareholder Datuk Eddie Ong.

A unit of Gagasan Nadi Cergas Bhd's (GNCB) has accepted a sub-contract work of a development project in Petaling Jaya, Selangor from a unit of Paramount Corp Bhd worth RM75.74 million.