News by theedgemalaysia.com

... as global recession fears and supply demand imbalance in China are expected to stymie demand recovery momentum.

This is the fifth consecutive quarterly loss for the group. It first slipped into the red in 1QFY2022 with a net loss of RM33.39 million.

Mah Sing Group Bhd's net profit for the first quarter ended March 31, 2023 (1QFY2023) rose 15.9% to RM50.06 million, from RM43.18 million a year earlier, on higher property sales.

Piling and engineering firm Top Builders Capital Bhd's external auditor Kreston John & Gan has flagged significant doubts over the group's future in an audit of its financial statements for the financial year ended June 30, 2022 (FY2022).

IOI Properties Group Bhd posted a 93.2% year-on-year jump in its third quarterly net profit ended March 31, 2023 (3QFY2023) to RM115.38 million from RM59.72 million on lower taxation.

OSK Holdings Bhd registered a net profit of RM115.09 million, or earnings per share of 5.58 sen, in the first quarter ended March 31, 2023 (1QFY2023), a 36.3% increase from RM84.44 million or 4.09 sen per share a year before.

Eastern & Oriental Bhd (E&O) on Wednesday (May 26) announced that its township development project, Andaman Island Phase 1 has attained GreenRE Platinum Provisional Certification under the township category.

Rahim & Co International Sdn Bhd, in its 1Q2023 Property Market Review event on May 25 (Thursday), stated that although the property market witnessed a momentary slowdown in 1Q2023 as the volume of transactions fell by 5.7% compared to 1Q2022, the numbers remain higher than pre-pandemic levels corresponding to the first quarter performance.

Sime Darby Property Bhd (SDP) sees 2023 to be a challenging year for the property industry due to rising raw material prices and the recent hike in the overnight policy rate (OPR) to 3%.

YTL Corp Bhd’s net profit was flat at RM414.14 million in the third quarter ended March 31, 2023 (3QFY2023) from RM414.61 million a year before.