Axis Real Estate Investment Trust (REIT) chief executive officer Leong Kit May knew that the trust has a “gold mine” waiting to be excavated in its 50-acre (20.23ha) property in Klang. So much so that the first development on this land can generate a net yield of nearly 10% over 10 years.
I-Bhd’s net profit for the second quarter ended June 30, 2016 (2QFY16) soared by 72.32% from the previous comparable period to RM14.68 million, as the developer of i-City credited it to stronger property sales.
Spanning 117 acres, the 10-year project will be developed in 11 phases whose total GDV is RM5.4 billion and is expected to generate a profit margin of 20%, said Yong Tai executive director Boo Kuang Loon.
EcoFirst attributed its stellar performance to its Upper East @ Tiger Lane luxury condominium project in Ipoh, Perak, which contributed 75% of the group's revenue, as well as consistent recurring earnings from its two malls — South City Plaza in Sri Kembangan, Selangor, and 1Segamat Mall, Johor.
Kobay’s wholly owned subsidiary Paradigm Precision Machining Sdn Bhd (PPM) is set to sell the leasehold land, which comes with a single-storey factory, to clothing manufacturer Messrs TopFur Dressing Industries Sdn Bhd.
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