News by Justin Lim

Its revenue fell 17.37% quarter-on-quarter (q-o-q) to RM138.91 million from RM168.12 million, dragged mainly by lower construction activities and lower work progress for its property development projects, the company’s filing with the local bourse showed.

SCSB has taken over Welcome Global's shares in SESB and will develop the property on its own since the property is located within its development project at Sunsuria City, Sepang

On top of the disposal of the Jasin land worth RM260.2 million, the group attributed the better profitability to the positive contribution from its ongoing development, namely Emerald Hills and Emerald 9 in Cheras

Messrs HLB Ler Lum said the group’s and company’s current liabilities exceeded its current assets by RM108.37 million and RM309.19 million, respectively as of the financial year ended Dec 31, 2020 (FY20).

"We have survived with the pent-up demand; more vaccines being rolled out and with Covid-19 cases coming down, I think [consumers'] confidence will come back," Cheah said during a media briefing on the economic recovery.

Residential units made up almost all of the sales with a total of 5,736, including 2,467 units of two- and three-storey terrace houses, 1,225 units of serviced apartments and 1,082 units of apartments/condominiums.

Gamuda said Penang state government on March 25 accepted the terms of project development of Island A, whereby the project shall be implemented via a project development model through a joint venture with the state government.

Yong Tai said the mining area was in operation over the last five years with proven gold mined, giving a better exploration database and detailed geological models, which translated into reduced risks and huge discount on capital costs.

In its 2020 annual report, KLCC REIT chairman Tan Sri Ahmad Nizam Salleh said the second Movement Control Order, which came into effect on Jan 13, 2021, is expected to delay recovery in the retail and hospitality sectors.

Under the moderate reform scenario, Malaysia's GDP growth rate is expected to fall to 2.9% by 2050.