News by Justin Lim

According to a filing with Bursa Malaysia, Inta Bina's wholly-owned subsidiary Inta Bina Sdn Bhd accepted the letters of award today. The main building works consist of the design and build for property developments in Kuala Langat and Shah Alam by Eco Sanctuary Sdn Bhd and Eco Ardence Sdn Bhd, respectively.

Eco World Development Group Bhd (EcoWorld), which posted a net profit of RM13.8 million in the third financial quarter ended July 31, 2020 (3QFY20), has secured total sales of RM1.25 billion in the four months after Movement Control Order (MCO).

Eco World International Bhd reported a net profit of RM37.63 million in the third quarter ended July 31, 2020 (3QFY20) amid sharply higher revenue of RM615.44 million compared with RM224,000 a year ago.

In its latest corporate presentation in September 2020, Genting Malaysia said it will focus on business efficiency to align its cost structure with the new operating environment.

The contract entails the construction of a 22-storey serviced apartment block containing 812 units, along with an eight-storey building that comprises a car park podium and facilities. It will also build a guardhouse and refuse chamber.

IOI Properties said the property development segment recorded revenue and operating profit of RM544.6 million and RM314.9 million, up 53% and 193% respectively compared with 4QFY19.

The group said it maintains a positive outlook on the retail industry in China. With the effective control of the pandemic and the implementation of various measures to stimulate consumer spending, China's retail market has recovered gradually with consumer consumption picking up steadily.

For the first half FY20, Genting posted a cumulative net loss of RM918.37 million against a net profit of RM1.16 billion a year ago.

In a bourse filing, WCE said its finance costs jumped to RM41.02 million compared with RM3.05 million in 1QFY20.

Analysts said Genting Bhd and its subsidiaries are not immediately affected by Genting Hong Kong's decision to suspend payments to creditors.