The public utilities group attributed this to a higher share of losses reported by its associates, higher depreciation and amortisation expenses, and lower other operating income, primarily from the fair value measurement on its investments.
Quarterly revenue dropped 16.41% to RM522.13 million, from RM624.66 million.
Quarterly earnings per share declined to 4.7 sen from 5.63 sen previously.
UOA Development Bhd’s net profit jumped 81.62% to RM46.1 million for the first quarter ended March 31, 2023 (1QFY2023), from RM25.39 million a year earlier, while revenue grew 56.17% to RM85.24 million, from RM54.58 million over the same period.
Capitalisation rates (cap rates) of commercial properties across the Asia-Pacific region are likely to continue rising for the rest of the year, with higher borrowing costs and economic uncertainty expected to push rates up by between 75 basis points (bps) and 150bps within the next six months, according to a survey by international commercial real estate services firm CBRE.
EcoFirst Consolidated Bhd (EcoFirst) launched its latest serviced apartment project — KL48 in Chan Sow Lin, Kuala Lumpur on Friday (May 19). The development has a gross development value (GDV) of RM1 billion.
Property developer Radium Development Bhd said the public tranche of 273 million shares for its initial public offering (IPO) made available for the Malaysian public has been fully subscribed.
The only property app you need. More than 200,000
sale/rent listings and daily property news.
