News by Syafiqah Salim

The Practice Note 17 (PN17) company Perak Corp Bhd has narrowed its net loss for the first quarter ended March 31, 2022 (1QFY22) to RM1.2 million from RM6.29 million a year ago, due to profit from the sale of land by a former subsidiary under its property development segment.

Sime Darby Property Bhd's net profit declined by 21.51% to RM51.84 million for the first quarter ended March 31, 2022 (1QFY22) from RM66.04 million in the same quarter last year.

Revenue came in at RM867.1 million, 17.64% less than the RM1.05 billion it recorded in 1QFY21, its bourse filing showed.

Earnings per unit rose to 2.96 sen from 0.94 sen a year earlier, Sunway REIT informed Bursa Malaysia on Wednesday (May 18).

In a bourse filing on Friday (April 22), Sunsuria said its wholly-owned subsidiary Sunsuria Residence Sdn Bhd has entered into a sale and purchase agreement with Superjet Revenue Sdn Bhd for the proposed land acquisition.

Sunway Malls & Theme Parks chief executive officer HC Chan said the collaboration aims to leverage each other's strengths and strong presence in a range of industries including aviation, property, education, medical tourism and hospitality.

At a press conference in conjunction with the annual general meeting here on Tuesday (April 12), Md Shah Mahmood said: "I hope it will be a good year, but I do not think it (business) will reach pre-pandemic levels.

The stock opened at RM1.20 before rising to a high of RM1.24. As at 9.38am, the counter had risen six sen or 5.13% to RM1.23, valuing the construction outfit at RM1.53 billion. 

The contract was awarded by Eastern & Oriental Bhd's indirect subsidiary Persada Mentari Sdn Bhd to Kerjaya Prospek's wholly-owned unit Kerjaya Prospek (M) Sdn Bhd.

Investment analysts covering the stock believe that Gamuda can unlock the value of its highway concessions through the deal and that this will strengthen the group’s balance sheet, lower leverage, reward shareholders with special dividends and reduce borrowings.