News by Luqman Amin

Integrated construction and property company PTT Synergy Bhd (KL:PTT) has acquired a semi-detached factory, together with a piece of land, in Sepang from Sime Darby Property Bhd (KL:SIMEPROP) for RM11 million.

Kimlun Corp Bhd (KL:KIMLUN) has secured a RM128.13 million contract to build a residential development in Johor Bahru, the fifth contract win it has announced this year.

Of this total, 306.07MW, or 87.45%, has been approved for projects. 

Kerjaya Prospek Group Bhd (KL:KERJAYA) said on Wednesday it had secured a RM292.8 million contract for building works in Kuala Lumpur.

The companies involved are Abadi Malaysia Sdn Bhd, Kota Lanskap Sdn Bhd and Usia Maintenance Sdn Bhd.

Malaysia’s property transaction value soared to RM105.65 billion in the first half of 2024 (1H2024), marking a 23.8% year-on-year (y-o-y) increase — the highest in five years — according to the National Property Information Centre (Napic).

Inta Bina Group Bhd (KL:INTA) has secured another construction contract from Sime Darby Property Bhd (KL:SIMEPROP) worth RM96.55 million to undertake main building and construction works for a 37-storey serviced apartment project in Putra Heights, Selangor.

Facilities and waste management services company AWC Bhd (KL:AWC) has received a letter of award worth RM19.9 million sub-contract from Gamuda Engineering Sdn Bhd for construction works related to a data centre project in Rawang, Gombak.

Property developer Avaland Bhd (KL:AVALAND) reported a near doubling of its net profit for its second quarter ended June 30, 2024 (2QFY2024), thanks to better work progress and higher take-up rates.

Construction firm Kerjaya Prospek Group Bhd, which posted a 15.83% increase in net profit to RM70.64 million in the first half of this year (1HFY2024), is anticipating stronger construction activities in the second half of the year that will further drive its growth.