News by Sulhi%20Khalid

Speaking at the launching event on Thursday (March 3), the tycoon and founder of Berjaya Corp Bhd said YMFH was established to facilitate affordable housing for Malaysians, with the aim of enabling more Malaysians, specifically those in the bottom 40% income group (B40), to own their own homes by promoting and supporting innovative solutions to address the affordability of homes and helping these communities develop sustainability in a holistic way.

The group saw its net profit jump three-fold to RM793.42 million for the cumulative nine months ended Dec 31, 2021 (9MFY22) from RM247.76 million a year ago, even though revenue came in lower by 4.7% to RM3.18 billion from RM3.33 billion in 9MFY21 due to lower construction activities as a result of the Covid-19 lockdown.

In a Bursa Malaysia filing on Wednesday (Feb 23), the group said its quarterly revenue surged by 67.53% to RM4.11 billion from RM2.45 billion, fuelled by higher revenue reported by its plantation segment amid increase in crude palm oil (CPO) prices. 

In a Bursa Malaysia filing on Wednesday (Feb 23), the property developer said its quarterly revenue fell by 18.85% to RM496.34 million from RM611.64 million in 4QFY20.

In a Bursa Malaysia filing on Tuesday (Feb 22), the group said the proposed acquisition is in line with the fund’s investment objectives and growth strategy to provide the unitholders with stable income distribution and to achieve growth in the net asset value (NAV) per unit of Axis REIT, by acquiring high-quality, earnings accretive properties with strong recurring rental income.

This follows its failure to obtain approval from the Economic Planning Unit (EPU) to waive a 30% Bumiputera equity ownership condition prior to transferring ownership of the land.

According to an advertisement in StarBiz on Wednesday (Feb 9), the sale of the building is being conducted via expression of interest.

There will be 2,960 units of serviced apartments with built-ups of between 400 sq ft and 600 sq ft, as well as 252 units of apartments for existing owners and residents of Kampung Baru properties, as part of their entitlement under the terms and conditions of the project.

The group said the 18-month project will start on Feb 14. It did not disclose who awarded the project to the company.

In a statement on Friday (Jan 21), its president Tan Sri Soh Thian Lai said Malaysia needs progressive policies and laws to stand tall globally and shared that repressive and hostile laws which have not gone through proper regulatory risk impact assessment are going to be very damaging for the economy especially in the post-pandemic recovery period.