The group had made the application on Aug 29 as its revenue for the financial year ended June 20 2016, was below the required level under the listing requirements, which is at least 5% of the issued and paid-up capital.
About 39.4% of the order book came from the group's traditional stronghold in the Middle East region, 25.1% from Southeast Asia, 20.2% from India and the remaining 15.3% is from the oil and gas segment.
MRCB Quill Management Sdn Bhd, the manager of MRCB-Quill Real Estate Investment Trust said it is open to acquiring new assets in the future and will look into the potential of injecting Menara Celcom in Petaling Jaya from one of its sponsors, Malaysian Resources Corp Bhd.
The acquisition is being made through Tiara Land Pte Ltd, an indirect 50% associate company. The vendor is National Aerated Water Company Ltd.
Instead, it will competently manage properties in its portfolio.
Eco World Development Group Bhd (EcoWorld) reported a net profit of RM29.35 million or 1.21 sen per share in the fourth quarter of financial year 2016 (4QFY16), a 49% increase from RM19.69 million or 0.83 per share reported in the last quarter of the preceding year.
It is playing catch-up in the final quarter of the year with more launches after the slow nine months, which should raise the value of its launches to about RM450 million...
The lower revenue was mainly because of lower revenue from its construction and property divisions, the effects of which were mitigated by toll rate hikes on certain expressways which boosted topline and profit before tax (PBT) in its water and expressway concessions division.