“The property development segment is expected to contribute positively to the group in FY18.”

MMC said it remains positive of its prospects driven by stable performances of its operating companies together with contributions from ongoing construction projects.

Some investors are adopting a long-term position by buying units in ageing, freehold buildings in the prime Orchard Road belt.

More than 200 interested purchasers queued up for three days prior to the launch of the latest double-storey terraced houses in Taman Mutiara Rini recently.

“The overall take-up for the residential towers is 85%.”

Desa Parkcity project comprises 920 units in two towers with built-up areas ranging from 876 sq ft to 1,537 sq ft.

The group, which produces and sells firefighting equipment, said the construction contract was awarded by Pencala Jaya Sdn Bhd to its wholly-owned unit, Fitters Construction Sdn Bhd.

Moving forward, the group said it is "confident to achieve higher revenue and profitability", judging from its RM2.7 billion order book as at end June 30.

Under the Memorandum of Understanding, mTouche and MNC Wireless will form an equity joint venture company to provide financial support to homebuyers of SPNB’s affordable housing project.

The aim is for industry leaders to exchange ideas and best practices in shaping the future of retail.