Conglomerate Sunway Bhd (KL:SUNWAY) reported a 21.6% year-on-year increase in its first-quarter net profit, driven mainly by stronger performance from the property development and healthcare segments.

Noteworthy:

• Freehold
• Built-up size: 43,777 sq ft
• Unfurnished
• Nearby amenities: Various residential communities, F&B outlets, schools, Sultan Ibrahim Stadium, parks and green spaces, Iskandar Puteri Fire and Rescue Station, 28 mins from Bukit Chagar RTS station
• Accessibility: Pontian Highway, Malaysia-Singapore Second Link, Iskandar Coastal Highway, Jalan Gelang Patah

When: February 2024

In its recently issued 2024 Asia Pacific Home Attainability Index report, the three current key property trends are: renting has increased in cities, young people are not able to own their own homes, and developers are encountering financial difficulty.

The former executive director of engineering construction firm Ageson Bhd sold the stake comprising 33.73 million shares on May 16 in a direct business transaction.

Loke said The Logg is the company’s first mixed development project, and is also its first joint development project with Lembaga Pembangunan Perumahan dan Bandar, the state agency in Sabah.

Trading in the stock was also more active than usual, with volume nearly four times its 200-day moving average.

The share disposal slashed Tan’s total stake in Binastra to 57.3%.

Net profit for the three months ended March 31, 2024 (1QFY2024) was RM32.40 million or 2.51 sen per share compared with RM27.83 million or 2.16 sen per share in the same quarter the prior year. 

The number of foreign workers in the country should not exceed 15% of the 17.1 million labour force projected by the Ministry of Economy. 

Ehsan Bina Group has formed a partnership through a Memorandum of Understanding (MOU) with Maybank Islamic Bhd to extend a financing programme called HouzKEY to buyers of ForestHill Residences, a high-rise residential project located in Damansara Perdana, Selangor.