Paramount Group chief executive officer Jeffrey Chew yesterday said the group’s property sales for 3QFY20 was 82% higher than that of the corresponding period last year, mainly derived from project launches this year, namely Sinaran at Utropolis Batu Kawan, Cendana at Greenwoods Salak Perdana, and the group's Sejati Lakeside Phase 2.
The group attributed the improved results to more construction work done being recognised, an increase in traffic volume for its toll operations, and an increase in rental income from the EkoCheras Shopping Mall, compared with 4QFY20.
Almost all business segments registered improved profit contributions, the group noted, except for its property development and other segments.
The country has now recorded 51,642 confirmed cases since the start of the third wave of Covid-19 infections on Sept 20, from 10,219 total infections then.
Higher revenue was recorded across all its major business segments.
This was supported by 19% higher revenue in the quarter of RM4.18 billion against RM3.52 billion in 4QFY20.
About 6,526 people living in the area have been screened so far.
The development, to be called Ampang Dagang Jaya, will have a gross development value of RM520.3 million.
As for those in the middle 40% income group (M40) seeking a reduction in monthly instalments, they would have to make a self-declaration with the banks, but can do so without documents.
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