UOA Development's 1QFY20 sales, amounting to RM114.8 million, came in below its expectations of RM963 million (12%) mainly on the back of sales at United Point Residence and The Goodwood Residence.
This will be the second retrenchment exercise for the media group after the retrenchment of 543 staff at Media Prima’s publication group New Straits Times Press (NSTP) last March.
Ahmad Zulqarnain was the deputy managing director (MD) of Khazanah. He was appointed as one of the two deputy MDs in 2018, in charge of the strategic fund and managing Khazanah’s strategic holdings in GLCs.
The company's priority is to ensure that its cash flow is maintained, which involves tenants being able to continue operating at its malls.
The developer said its earnings grew following the progressive recognition of ongoing development projects, namely the United Point Residence and Link Lifestyle Apartments. In particular, the higher bottom-line figures were mainly derived from the United Point Residence, which was completed during the quarter.
Penang-based Wabina Constructions & Engineering Sdn Bhd will have the full merits of its application over its legal challenge of a government decision that effectively exempts all companies in debt from having to pay its creditors for six months following the Movement Control Order, which was implemented to curb the spread of Covid-19.
In a note today, the research house said for full-year FY20, core net profit came in at RM491.1 million (+21.2% y-o-y) on the back of RM6.6 billion (+16.8% y-o-y) revenue, with growth coming from its property and plantation divisions.
AllianceDBS Research said Anzo Holdings Bhd (Anzo) had on June 26 gapped up to reach the highest high of 18.5 sen since June 20 before closing at 17.5 sen (up 2.5 sen or 16.6%).
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