News by TheEdgemarkets.com

Sime Darby Property said the group's future prospects are underpinned by its continuous commitment to grow core profit, reduce inventories, and to maintain its sales momentum

The co-working space business is expected to be a growth story in Paramount.

In an exchange filing, the property developer attributed the sharp decline in its net profit to the absence of contribution from land sales compared to the corresponding period last year which carried a significantly higher margin, cushioned by the partial settlement income of Aurora Melbourne Central and Conservatory projects.

"Our defence is pretty identical [with the SRC trial], that my client has been misled."

"The new launches from The Peak and The Conlay will then drive our unbilled sales, because our strategy for the past three years is not conduct new launches but focus on our existing inventory."

Diversified group Sime Darby said today in filings to Bursa Malaysia that Wan Abdul Aziz, 67, plans to retire "due to his health reasons".

Tan Sri Muhammad Shafee Abdullah said the defence did not want to delay the trial, but to bring to the court's attention that the Court of Appeal had on Monday granted leave to Najib and Shafee's applications to remove the former Federal Court judge from leading the prosecution in their cases.

With the group's property project in Genting Permai being completed this year, its property development segment also contributed lower earnings.

The group said it is in the midst of developing a piece of land held along Jalan Klang-Banting here, and is anticipating a gross development value of RM10 billion with 10 main development phases.

It was reported that he also faces 33 counts of bribery at the Shah Alam Sessions Court amounting to RM42.7 million for receiving funds from Ultra Kirana. He had claimed trial to all the charges at the Kuala Lumpur and Shah Alam Courts.