News by M

The Ascott Limited, CapitaLand’s serviced residence unit, has launched a new co-living hospitality concept brand Lyf, pronounced ‘life'.

Property developer Titijaya Land Bhd expects its net profit and revenue in the current financial year ending June 30, 2017 (FY17) to be around the same level as in the previous year, its deputy managing director Lim Poh Yit said.

RHB Singapore is initiating coverage on Manulife US REIT with a "buy” recommendation with a target price of 96 US cents (S$1.37) (RM4.28).

Ekovest Bhd said it is close to securing about RM400 million more contracts for its construction division within financial year ending June 30, 2017 (FY17), which will boost its orderbook to exceed RM7 billion.

Titijaya Land Bhd plans to enter the affordable housing segment with a proposed development of RM2.4 billion in gross development value (GDV) in Bukit Raja, Petaling in Selangor in the second quarter of 2017.

IJM Land Bhd, the property development arm of IJM Corp Bhd, will launch the Waterside Residence at The Light in Penang sometime in December.

Sunway Construction Group Bhd’s (SunCon) third quarter net profit climbed 21% year-on-year (y-o-y) on stronger earnings from its construction segment, which saw a better profit before tax (PBT) margin of 9.3% compared to 2.4% previously.

WCT Holdings Bhd reported its third quarter of financial year 2016 (3QFY16) results with a revenue of RM414 million (+11% year-on-year, -29% quarter-on-quarter) and core earnings of RM20 million (+181% y-o-y, -8% q-o-q). 

Once an investor favourite just a few years ago, Singapore has now sunk to “near the bottom” of the rankings it once topped while struggling with overcapacity, falling demand and a slump in its residential sector.

Naza TTDI Sdn Bhd, the property arm of Naza Corp Holdings Sdn Bhd, is actively on the lookout for more land banks in its quest to expand its property portfolio, said its executive director Idzham Mohd Hashim.