News by TheEdgeMarkets.com

Sime Darby Property Bhd said on Wednesday (Nov 30) that it anticipates the group’s sales momentum to continue into the financial year ending Dec 31, 2023 (FY2023), albeit weaker due to the global economic uncertainties in the year ahead.

Construction outfit Pesona Metro Holdings Bhd has received a takeover offer from major shareholder Wie Hock Kiong to acquire 278.03 million shares or a 40.01% stake in the group at a price of 19 sen per share or RM52.83 million cash in the event of full acceptance of the offer.

NCT executive chairman and group managing director Datuk Seri Yap Ngan Choy said the strong performance was mainly due to the resumption of economic activities and the reopening of national borders.

YNH Property Bhd’s net profit slumped 97.07% to RM43,000 for the third quarter ended Sept 30, 2022 (3QFY2022), from RM1.47 million for the same quarter last year, amid completion of the K163 development here.

WCT Holdings Bhd posted a net profit of RM12.49 million for the third quarter ended Sept 30, 2022 (3QFY2022), versus a net loss of RM35.23 million a year ago, as revenue rose on lower cost of sales, administrative expenses and finance costs.

Tiong Nam Logistics Holdings Bhd posted a more than five-fold rise in net profit to RM1.65 million for its second quarter ended Sept 30, 2022 (2QFY2023), from RM254,000 a year earlier, on the back of a higher revenue for its logistics and warehousing services segment.

UOA Development Bhd’s net profit and revenue jumped almost three times year-on-year for the third quarter ended Sept 30, 2022 (3QFY2022) on progressive recognition of the property developer’s ongoing project.

Eversendai Corp Bhd's net loss for the third quarter ended Sept 30, 2022 (3QFY2022) ballooned to RM96.27 million from a net loss of RM14.82 million a year earlier, mainly due to under-utilisation of the group’s fabrication facilities, as well as a weakening ringgit.

AME Elite Consortium Bhd's net profit for the second quarter ended Sept 30, 2022 (2QFY2023) rose more than fourfold to RM45.81 million, from RM9.76 million a year ago, on stronger progress in its industrial parks and fair value gains from disposal of industrial properties.