News by theedgemalaysia.com

GuocoLand (M) Bhd's (KL:GUOCO) net profit more than halved to RM2.32 million in the first quarter ended Sept 30, 2024 (1QFY2025), from RM4.79 million a year earlier, as revenue fell on reduced contribution from the property development division.

Atlan Holdings Bhd's (KL:ATLAN) 75.53%-owned subsidiary Duty Free International Ltd (DFIL) (5SO.SI), which is listed on the Singapore Exchange, said it is not satisfied with the RM69.9 million compensation for two pieces of land in Bukit Kayu Hitam, Kedah, that Malaysia's Ministry of Home Affairs (KDN) has compulsorily acquired for a road construction project.

Paragon Globe Bhd (KL:PGLOBE) said it has secured the rights to develop 67.42 acres of land in Iskandar Puteri, Johor, for a residential project with an estimated gross development value of RM733.12 million.

The reason Fajarbaru Builder Group Bhd (KL:FAJAR) pulled out from participating in the affordable housing development in Putrajaya dubbed Residensi Cemara, which is estimated to have a gross development value of RM192 million, was that it had deemed the project "not sustainable" following a change in requirements.

Singapore-based Oxley Holdings Ltd via a subsidiary, Artisan Hospitality Sdn Bhd, has formed a joint venture with Langham Hospitality Group (LHG) to open The Langham, Kuala Lumpur hotel at the Oxley Towers KLCC mixed development in 2027.

Avaland Bhd (KL:AVALAND) launched the Sanderling 2 high-rise residential project over the weekend. Sanderling 2 is the fourth and final phase of the developer’s 23-acre freehold Lakefront Residence development in Cyberjaya.

Newly listed KTI Landmark Bhd (KL:KTI) said it has won a sub-contract under the Armed Forces Family Housing (RKAT) construction project at the Labuan Air Base, worth RM49.99 million.

Malaysia should shift from merely hosting data centres to becoming a global leader in the design, manufacturing, and export of data centre infrastructure, said Minister of Economy Rafizi Ramli.

Sabah-based Azam Jaya Bhd (KL:AZAMJAYA) ended its debut on the Main Market of Bursa Malaysia on Monday with a closing price of RM1.09, a 39.74% or 31 sen rise from its initial public offering price (IPO) of 78 sen.

Sime Darby Property Bhd (KL:SIMEPROP) took the No 1 spot at this year’s The Edge Malaysia Top Property Developers Awards (TPDA), the second time the company has done so after its inaugural win in 2009. This year, it also obtained the top spot in the Best in Qualitative Attributes sub-award.