News by Wong Ee Lin

Kimlun Corp Bhd is expecting a flattish earnings performance for the financial year ending Dec 31, 2017.

The contract encompasses works for an eight-storey entertainment hub, a multi-storey
car park, a multistorey basement, a 43-storey office tower, a 27-storey hotel with 359 rooms, two connecting pedestrian bridges, a 47-storey apartment with 393 units, and a 35-storey apartment with 273 units.

Mah Sing Group Bhd is expanding its landbank as the property developer plans some RM1.9 billion worth of launches in 2017. Affordable housing in Malaysia is a crucial focus for Mah Sing this year.

Its new CEO is hopeful that the market will be stronger in the next one to two years.

Analysts note concerns over earnings dilution by as much as 50% after the exercise.

Selling on Malaysian Resources Corp Bhd (MRCB) continues in the afternoon session. Its share price slid to a low of RM1.53 against yesterday’s closing of RM1.74. 

Kerjaya Prospek Group Bhd has bagged a contract worth RM207.36 million for the construction of 166 units of three-storey semi-detached houses, 99 units of three-storey bungalows and ancillary works in Shah Alam.

MRCB-Quill REIT posted a 39.9% increase in net property income for the first quarter ended March 31, 2017, owing to higher revenue.

SHL Consolidated Bhd is partnering Japanese general trading firm Marubeni Corp to develop a condominium project in Bandar Sungai Long.

Ikhmas Jaya Group Bhd has bagged a contract worth RM62.4 million from Pelaburan Hartanah Bhd to carry out site clearance, earthworks, piling (bore) and pile cap works for a mixed development in Kuala Terengganu.