News by Samantha Ho

Revenue for FY19 declined 9.81% to RM886.32 million compared with RM982.71 million in FY18 mainly due to decreases in contribution from its property and hospitality segments.

“Deloitte Malaysia is not the subject of the investigation and is cooperating fully with the authorities in their investigation.”

The cuts are effective today and reduce the BR and BLR to 3% and 6.65% respectively.

In January, figures from the Construction Industry Development Board (CIDB) indicated private sector adoption of IBS stood at an estimated 35%. The government's target is to have 50% adoption by 2020.

The increase in ECL was mainly because 1QFY18 had recorded a writeback as a result of staging improvement from stage 2 to stage 1.

The tenancy term for the space measuring 42,903 square metres is for 12 years and is renewable for another three years

"This one-off special dividend from Petronas has started to be paid to the government in stages, and the repayment of tax refunds to the taxpayers has commenced since January," Lim said. 

This will help ensure fairer prices and not give sole discretion to developers.

Quarterly revenue grew 23% to RM164.96 million from RM133.86 million a year ago. 

"An increase in prices will stimulate effective demand because it gives people an incentive to work."