Set to be boosted by new property project at Taman Megah and better occupancy rate for Cheras LeisureMall

For its property segment, PPB plans to launch its mixed development project with an estimated gross development value of RM500 million in Petaling Jaya by the end of this year.

Pasukhas said the claims launched against its 70%-owned unit Pasukhas Construction Sdn Bhd by the main contractor were over alleged wrongful repudiation and negligence in performing the work.

The group remains cautious for its property development division, and will only proceed with launches of its Kota Kinabalu, Kulai and Bukit Jalil projects after pre-sales information shows improvement in market sentiment.

Ahmad Zaki group managing director Datuk Seri Wan Zakariah Wan Muda said its effort of balancing project-based income with income generated through recurring sources are now "bearing fruit".

Residents of Taman Tun Dr Ismail (TTDI) has obtained leave from Kuala Lumpur High Court to pursue a judicial review against Dewan Bandaraya Kuala Lumpur (DBKL) and the KL mayor. 

Mitrajaya said the property development division posted a pre-tax profit of RM7.29 million in 2QFY17 compared with a pre-tax loss of RM1.35 million in 2QFY16 as revenue surged 145% year-on-year to RM34.88 million.

Despite the current competitive market, IOI Properties is confident that with its sizable landbank in strategic locations and developments within mature townships, it is well positioned to adapt to market demand.

More infrastructure and affordable housing projects expected in lead-up to GE14 — RAM

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