News by M

Benalec said the recognition of a land disposal during the current quarter had lifted its topline.

The mammoth project was placed on the back burner, as the property developer had issues finding and providing strategic access to the site, according to its chief executive Lau Shu Chuan.

The contract entails the construction of a 17-floor building comprising 756 units of serviced apartments and another nine floors of 108 units of serviced apartments built above the podium.

Improvement in revenue was attributed to higher progress of projects under its construction segment, while higher other operating income seen during the quarter had boosted profitability.

In an SGX filing, the company stated that the price was derived based on “as is” market valuation of Aviva Tower of £323 million, without accounting for any potential redevelopment value.

Mah Sing sold RM632 million worth of properties in 3QFY16, bringing its cumulative nine months period of FY16 (9MFY16) sales to RM1.4 billion.

The construction company also has an order book of about RM1.61 billion, which can last for two years, 60% of which comes from LBS Bina, which owns 56% of ML Global.

The RM74.39 million contract included works to relocate a craft museum, Karyaneka office and the National Heritage Department office to Bangunan Sultan Abdul Samad as part of the MRT Line 2 project.

I had a most inspiring stopover in Paris recently with a visit to one of the world’s largest interior design trade shows — the Maison&Objet Paris 09/2016 Fair.

The announcement was made in response to a local news publication's report that said the group intended to acquire the hotel from CDL Hospitality Trusts for A$85 million.