Mitrajaya Holdings Bhd’s net profit jumped 55% to RM28.74 million for the first quarter ended March 31, 2017 (1QFY17), from RM18.46 million in 1QFY16, helped by a compulsory land acquisition.
Econpile Holdings Bhd posted a record net profit for the third financial quarter ended March 31, 2017 (3QFY17), on higher billings recorded coupled with increased overall project order book secured.
Better cost management has helped lift Titijaya Land Bhd’s net profit by 26.77% to RM19.23 million for its third quarter ended March 31, 2017 (3QFY17), from RM15.17 million a year earlier.
Mah Sing Group Bhd has entered into an agreement with LTS Properties (M) Sdn Bhd, TS Law Corp Sdn Bhd and Law Wai Cheong for the purchase of a 78% equity stake in Cosmowealth Housing Development Sdn Bhd for RM54.96 million, which will be paid over a period of six years.
Eversendai Corporation Bhd rose 1.02% in early trade today after Kenanga IB Research maintained its “Underperform”rating on the stock with a higher target price of 77 sen (from 49 sen) sen and said the company’s 1Q17 beat house expectations given Kenanga’s overly conservative margins for its projects in Middle East, India and Malaysia.
Going forward, OSK said its property development division would continue to drive sales in Malaysia and Australia, while the property investment business would contribute steady rental income despite the challenging retail market.
YTL Land & Development Bhd posted a net profit of RM18.96 million or 1.57 sen per share in the third financial quarter ended March 31, 2017 (3QFY17), compared to a net loss of RM8.11 million or 0.44 sen loss per share a year ago.
Eversendai Corp Bhd said it is well on track to meet its RM2 billion revenue target for the financial year ending Dec 31, 2017 (FY17) and is confident of registering a record performance for the year, backed by its hefty orderbook.
Matrix Concepts Holdings Bhd is on track to achieve its sales target of RM1 billion for its 2018 financial year ending March 31.
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