News by TheEdgeMarkets.com

In its September Central Bank Watch note released on Wednesday (Aug 31), UOB said that besides internal factors, expected outsized US Federal Reserve rate hikes in the coming months and global monetary conditions would also be taken into consideration by Malaysia's central bank in its September meeting.

UMW Group is disposing of 140 acres (56.66 hectares) of land at the UMW High Value Manufacturing Park (UMW HVM Park) in Serendah to LONGi (Kuching) Sdn Bhd for RM304.92 million.

Ekovest Bhd's net loss for the fourth quarter ended June 30, 2022 (4QFY22) ballooned to RM123.81 million from RM2.66 million a year before, dragged by lower contribution from the construction and property investment segments.

Malaysian Resources Corp Bhd (MRCB) swung back to the black in the second quarter ended June 30, 2022 (2QFY22) with a net profit of RM14.1 million compared with a net loss of RM32.42 million a year earlier, hoisted by the normalisation of its operations, which resulted in increased revenue and profit recognition from construction progress.

IJM Land Bhd saw more than 85% of Phase 1 units of the IKON @ Centrio development located in the Seremban 2 township in Negeri Sembilan taken up during its launch over the weekend, according to a press statement.

Paramount Corporation Bhd said the second half of this year holds better prospects for its property sector as most of the economic uncertainty is expected to dissipate.

Managed and operated by Hyatt Hotels Corp, the four-star hotel is developed by Malton Bhd, owned by Mygres Ceramiche Sdn Bhd, and constructed by Siab Holdings Bhd.

Leong said the group's performance was boosted by the local economy's recovery momentum following the reopening of the country's borders.

On a quarter-on-quarter basis, OSK’s net profit rose 23.14% from RM86.27 million in 1QFY22, as revenue improved by 9.2% from RM306.46 million.

The warehouse is leased to and will be shared by CEVA Logistics, a global logistics and supply chain company, and SL Ng, a fast-moving consumer goods market expansion service provider.