Karambunai said in the Bursa filing that it has started the process of addressing the material uncertainty, whereby the financial performance of Nexus Resort & Spa Karambunai, the group's principal operating unit, has started showing positive results and generating positive operating cash flow.
Currently, WMG has a total undeveloped land bank of approximately 620 acres, of which 442 acres are in Sandakan and the remaining 178 acres are in Kota Kinabalu.
The group nearly quadrupled its net profit to RM70.31 million in FY17 from RM17.69 million in FY16, mainly due to higher property sales.
The proposal has been weighed down by a challenging rental market.
Online property auction platform e-Lelong for court auctions of immoveable properties has taken off with an initial pilot project to smoothen out the kinks in the system before going nationwide.
Sime Darby Bhd has announced Tan Sri Abdul Wahid Omar as Sime Darby Property Bhd chairman.
The RuMa Hotel will be operated by international luxury hotel operator Urban Resort Concepts.
This is MACC’s second visit to the office after it launched investigations into FIC’s purchase of a RM330 million four-star hotel in Kensington, London.
A new concept serviced office space in Jalan Kia Peng here launched yesterday by Colony, a co-working space company, has achieved a 42% occupancy rate and the company is targeting to hit 60% by December...
Mesiniaga said the building, which is being sold to Sparkle Gateway Sdn Bhd, was under utilised and an excess to the group, while no longer situated at a strategic location as it is far from the major customers in Penang.
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