BAssets said its higher net loss was due to the higher deferred tax provision on fair value changed in investment properties amounting to RM59.3 million, following the recent increase in Real Property Gains Tax (RPGT) tax rates.
Chairman Datuk Mohamad Haslah Mohamad Amin said the company has lined up RM1.4 billion worth of new launches in FY20, comprising mainly landed properties in Bandar Sri Sendayan, Negeri Sembilan, and Bandar Seri Impian, Johor, for the mass market segment, which would support its performance in the year ahead.
The better 2QFY19 earnings boosted the group’s net profit for the first half of FY19, which surged 116% to RM65.91 million from RM30.58 million a year ago (1HFY18), as revenue increased 65% to RM613.23 million from RM372.5 million.
Net profit for 2QFY19 rose to RM37.29 million from RM12.74 million in the corresponding period last year.
The programme is a joint collaboration involving the central bank, Agensi Kaunseling dan Pengurusan Kredit (AKPK) and Credit Guarantee Corp Bhd (CGC), with the support of the financial industry.
In a statement today, the central bank said it has increased the maximum monthly household income to RM4,360, while the maximum property price has been increased to RM300,000.
In a statement to Bursa today, Utusan said the Utusan Malaysia and Kosmo! price hike will be effective Friday (Aug 23) and Sunday (Aug 25) respectively.
Arul Kanda has originally filed an application on Monday (Aug 19) to the High Court, seeking to unfreeze his two CDS accounts and compensation for loss of share value and investment opportunities arising from the freeze.
The acquisition is its second this year after it announced it was buying MPSB Venture Sdn Bhd for RM28 million in May.
MACC investigating officer (IO) Senior Assistant Commissioner Rosli Hussain was shown an article from The Wall Street Journal (WSJ) and he said it was not the WSJ report that resulted in the investigations.
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