Genting Malaysia says full extent of Covid-19 impact remains uncertain
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.
MGB bags RM122m construction contract in Sepang
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 reports lower 4Q net profit despite revenue increase, pays lower dividend
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.
Parkson posts bigger loss in 2Q, maintains positive outlook on Chinese market
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.
WCE posts fifth straight quarterly loss; dragged by recognition of interest expenses
In a bourse filing, WCE said its finance costs jumped to RM41.02 million compared with RM3.05 million in 1QFY20.
Genting worst-hit KLCI stock on Genting HK's planned suspension of payments to creditors
Analysts said Genting Bhd and its subsidiaries are not immediately affected by Genting Hong Kong's decision to suspend payments to creditors.
Guocoland posts ninth straight quarterly loss, dragged by loss on investment and tax provision
On prospects, the company said the Covid-19 pandemic has inevitably caused disruption in global business activities and has added further pressure to the property market.
Two-thirds of Malaysian manufacturers need up to two years to return to pre-pandemic levels — survey
Commenting on the challenges faced by the manufacturing sector, the Federation of Malaysian Manufacturers (FMM) president Datuk Soh Thian Lai said respondents were pessimistic about the outlook given the contraction in global growth as well as the perception that the Covid-19 pandemic has not been successfully contained with rising cases worldwide reported daily.
Property developer Aspen teams up with Chua Ma Yu for rubber glove venture
Aspen’s Malaysian unit Aspen Vision All Sdn Bhd (AVA), together with CMY Capital and Iskandar Basha Abdul Kadir, will develop the new business which will be undertaken by Aspen Glove Sdn Bhd (AGSB), said the real estate developer.
Malaysian retail REITs to see light at end of tunnel
Nevertheless, the year will still be a challenging one for Malaysian REITs, though those with flagship malls with strong market positioning will be able to weather the challenges better than their second-tier peers, said Head of equity research at RHB Asset Management Malaysia, Petrina Chong.
