News by Syafiqah Salim

IOI Properties Group Bhd posted a 93.2% year-on-year jump in its third quarterly net profit ended March 31, 2023 (3QFY2023) to RM115.38 million from RM59.72 million on lower taxation.

Kerjaya Prospek Group Bhd reported RM29.41 million net profit for the first quarter ended March 31, 2023 (1QFY2023), a slight increase from RM28.86 million a year earlier.

Property developer Radium Development Bhd said the public tranche of 273 million shares for its initial public offering (IPO) made available for the Malaysian public has been fully subscribed.

There will also be an additional sum of RM50 million deposited by the buyer within three months of completion of the conditions of the agreement.

TA Securities Research has valued Main-Market bound Radium Development Bhd at 51 sen per share, implying a financial year ended Dec 31, 2021 (FY2021) price-earnings ratio (PER) of 17.1 times, due to strong demand for affordable housing in the capital. 

Eversendai Corp Bhd said its independent auditors have raised concerns about the loss-making construction firm’s ability to operate as a going concern in its audited financial statements for the year ended Dec 31, 2022 (FY2022). 

Mulpha International Bhd has secured a A$160 million (RM478 million) green syndicated construction facility in Australia.

The construction engineering company has 12 months to regularise its financial condition, failing which trading in its securities could be suspended and it could be delisted from Bursa Malaysia. 

The Main Market-listed company failed to file its annual report by the April 30 deadline. 

CapitaLand Malaysia Trust’s (CLMT) net property income (NPI) increased by 8.8% to RM39.2 million for the first quarter ended March 31, 2023 (1QFY2023) from RM36.1 million a year ago, driven by higher revenue contribution from most of its properties, supported by a sustained recovery in retail sentiment, as well as contributions from Valdor Logistics Hub and the newly acquired Queensbay Mall.