News by Nazuin Zulaikha Kamarulzaman

In a bourse filing Jan 22, Hua Yang said its third quarter net profit declined 73.5% to RM1.53 million from RM5.77 million a year earlier. Its revenue, however, rose to RM72.53 million against RM68.42 million previously.

The research firm has upgraded Gamuda to "Outperform" with a higher sum-of-parts derived target price of RM4.70 from RM3.90 previously.

The REIT said the current market valuation and fair value loss for investment properties for all its buildings of RM2.143 billion and RM36.731 million respectively shall be incorporated into its FY19 accounts.

In a statement today, the think tank said it believes that the announcement will put a stop to speculations surrounding the country's biggest highway concessionaire.

In a property sector update today, the research house said it expects property demand to see a slow recovery in 2020 given the affordability issues and weak market sentiment.

In a Bursa Malaysia filing today, KAB said it had today accepted the letter of award (LoA) from Binastra Ablebuild Sdn Bhd, a subsidiary of property developer Binastra Land Sdn Bhd.

The new facility was opened three days prior to the new year.

MEF expects retrenchments in Malaysia to increase to 30,000 workers in 2019 compared to the 21,000 reported in 2018 as the country is affected by the sluggish global economy and the uncertainty that surrounds it.

In a statement today, the developer said the lawsuit was made after Econpile failed to carry out piling works for the project worth RM280 million and declared self-determination in early March this year.

The land is located in Iskandar Puteri next to EcoWorld's Eco Botanic township, the group's very first township project in Iskandar Malaysia. It is proposed to be developed into a mixed residential and commercial township development suitable for both first-time home buyers and the M40 group.