The group's property development division managing director, Sarena Cheah, said the group plans to launch RM2 billion worth of projects for FY19. "We are confident that the launches would continue to do well as more than 70% of the new launches are either in integrated developments or townships," she added.
IOI attributed its lower quarterly earnings to lower operating profit and total net forex losses on foreign currency borrowings and deposits, amounting to RM26.7 million.
The 20-year loan was originally received by NFCorp on Jan 8, 2008, at an interest rate of 2%, with a grace period of three years.
According to a statement, chief executive officer Datuk Wira Boo Kuang Loon said that he is raising his stake in the group, which currently stands at 12%, via special purpose vehicle (SPV) Domain Capital Sdn Bhd (DCSB) which will subscribe to 100 million new shares in the group.
In December 2018, EcoFirst had proposed to subscribe for a 20% stake in Geo Valley for RM13,333.46, followed by an acquisition another 50% stake for RM44 million from Geo Valley shareholders.
In a statement today, Standard Chartered Malaysia said it has passed the entire benefit of the cut to all its existing home loan customers, who will receive the benefit with immediate effect.
The ministry said it is spending RM99.19 million to subsidise RON95 and diesel fuel during this period.
The cuts are effective today and reduce the BR and BLR to 3% and 6.65% respectively.
The remaining dates for the proceedings this month will be on May 28 and 29. The trial will then continue right after the Hari Raya Aidilfitri break from June 10 to 14.
As Malaysia's 1Q19 GDP growth exceeded expectations of international funds, Lim describes the growth as "impressive". He said the 1Q19 GDP growth could have been better, if not for production supply shocks.
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