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.
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.
A final and single dividend of 1.75 sen was proposed, amounting to a payout of RM2.1 million for the financial year ended Aug 31, 2016 (FY16) — the same quantum as FY15's.
Its net profit increased 5.6% to RM68.77 million in 3QFY16 from RM65.13 million in 3QFY15, while revenue grew 4.1% to RM125.88 million from RM120.96 million during the same period under review.
I-Bhd said revenue rose to RM113.58 million from RM55.22 million
CMMT chairman David Wong said retail sales for the second quarter of 2016 grew 7.5%, having rebounded from a severe decline following the implementation of the goods and services tax last year.
Sime Darby Property Sdn Bhd, wholly-owned by Sime Darby, expects to unlock the value of the Semenyih land to fund strategic property development projects, it said.
It was estimated that Saizen REIT's market capitalisation will be at least S$300 million following the completion of the asset injection exercises.
Following Cheah’s resignation, the board of directors will comprise seven directors of which the ratio of independent directors to non-independent directors is 3:4.