The property developer said revenue stood at RM908.5 million, on the back of a 86% take-up rate of its two projects in Setia Alam launched in 1QFY16 with a gross development value (GDV) of RM128 million.
The company’s education division, on the other hand, recorded a 67% jump in PBT to RM10.2 million from last year, on higher student enrolment and a RM2.3 million gain from the sale of student accommodation apartments, after KDU University College moved to its new campus in Glenmarie, Shah Alam.
The planned purchase came on the heels of another land deal that the group sealed for the purchase of a 850-sq-m site in Prahran, Melbourne, for A$10 million, just two weeks earlier.
Bank Negara Malaysia deputy governor Datuk Muhammad Ibrahim is taking over as governor of the central bank, replacing Tan Sri Dr Zeti Akhtar Aziz who is retiring on April 30.
Vivocom said its unit entered into the HoA with Green Ventures Development Bhd, which will act as the developer of the mixed development with a gross development value of RM112 million on the 3.11ha land in Hulu Kinta.
Alwi, who has been with UOA REIT in an independent and non-executive capacity, boasts a luminous career in the public sector.
S P Setia Bhd, the country's biggest-listed developer by sales, has acquired its fourth piece of land in Melbourne, Australia, which it intends to develop into a high-end residential project with a gross development value (GDV) of A$38 million.
Gabungan AQRS said the land holds a 99-year lease expiring in 2112 under the “building” land use category.
Dissatisfaction over expensive home prices has been escalating in Malaysia in recent years, with prices now reportedly beyond the reach of an average worker in key states like Kuala Lumpur and Penang. The situation, as many have lamented, is also not helped by the government’s move towards rationalising subsidies and the introduction of the goods and services tax last year.