News by Syafiqah Salim

The contract, which was awarded by Daksina Harta Sdn Bhd, involves the construction of two blocks of serviced apartments (1,605 units) and two-storey retail shop lots (20 units), as well as one block of car park podium and related facilities at Lot 100961 Seksyen 9, Jalan Cheras in Kajang.

Malaysian Resources Corp Bhd (MRCB) said its first quarter (1Q) net profit soared 170% to RM14.03 million from RM5.2 million a year ago, helped by the full consolidation of the Light Rail Transit 3 (LRT3) project.

Ekovest Bhd reported a net loss of RM7.96 million for its third quarter ended March 31, 2022 (3QFY22), versus a net profit of RM27.54 million a year earlier, amid lesser contribution from its construction segment.

Malaysian Resources Corp Bhd clarified on Tuesday (May 31) that no proposal or offer has been received by the group so far regarding any potential restructuring of the group.

Despite the net loss, revenue for the quarter under review jumped 90.39% to RM72.43 million from RM38.04 million, driven by increased sales from all divisions particularly its property division.

Its property segment saw a 55% drop in pre-tax profit to RM26.5 million, as revenue fell 21% to RM175.1 million, mainly because projects launched in 2021 are at their initial stages of construction and have not reached the revenue and profit recognition threshold.

Sunway’s property development segment reported a 13.2% year-on-year (yoy) increase in profit before tax (PBT) to RM23.41 million, due to higher progressive profit recognition from its Singapore private condominium projects, which offset lower profit contribution from local development projects.

In a bourse filing on Thursday, Mulpha said its indirect wholly-owned unit Pindari Capital Capri Retail Pty Ltd (PCCR) — in its capacity as trustee for Capri Retail Trust — has entered into a contract of sale with Capri On Via Roma Pty Ltd (in its capacity as trustee for Capri Enterprises Unit Trust) for the transaction.

This resulted in a higher earnings per share of 1.13 sen for 1QFY22 compared with 0.8 sen for 1QFY21, the company’s bourse filing on Thursday (May 26) showed. 

However, quarterly revenue in 3QFY22 grew 27.44% to RM737.79 million from RM578.95 million in 3QFY21 mainly attributable to better performance contributed from all business segments.