News by Justin Lim

The year 2021 saw 300,497 property transactions worth RM144.87 billion recorded, up 1.5% and 21.7% y-o-y respectively, NAPIC said in a statement in conjunction with the release of its Property Market Report 2021.

Under the JV, Europlus is entitled to get RM62.11 million in return for granting JMSB the exclusive right to build homes on the plots — comprising 411 units of double-storey terrace houses on one of the plots (Land 1 measuring 11.3ha), and 710 units of double-storey terrace houses on the other plot (Land 2, measuring 20ha).

According to the Bond and Sukuk Information Exchange (BIX) website, the IMTN will pay a semi-annual coupon rate of 3.48%, with the first coupon payment date targeted for Sept 29, 2022, while the last coupon payment date will be March 29, 2027.

“The Board of Directors of Malton wishes to announce that the validity period of the MoU, which was in force for a period of 12 months, has expired on March 25, 2022,” said Malton in a bourse filing.

The two parties inked a Memorandum of Understanding for this purpose on Friday, under which they will jointly formulate a comprehensive sustainable plan to develop and transform part of Gaya, Sapi and Bohey Dulang Islands into a prime destination for eco-tourism.

In a filing with the bourse, the manufacturer of high precision stamped and turned metal parts said its net profit fell to RM243,000 from RM2.01 million a year before.

Respondents in the survey expect construction costs to surge an average of 19% in 2022 due to rise in prices of building materials, wages and financing costs.

The number of units sold compared to those launched translated into a sales performance improvement of 11 percentage points to 50% in 2H21 versus 39% in 1H21.

The property segment recorded a 40% increase in revenue to RM188.2 million, and pre-tax profit swelled by 2.5 times to RM54.7 million, compared with 3QFY21. These revenue and pre-tax profit were mainly derived from ongoing projects, as well as a higher share of profits from the group's joint venture projects, MSQ and Agile-Mont Kiara.

In a virtual briefing on Monday (Feb 28), Tee said the group is targeting to attain an annual revenue of RM1 billion, which is comparable with its performance before the Covid-19 pandemic hit, which was followed by various forms of lockdowns and restrictions implemented as preventive measures by the government to stop the virus' spread.