Ewein Bhd is acquiring a vacant piece of industrial land in Butterworth for RM25.84 million to develop a workers’ dormitory in a related party transaction.

Noteworthy:

• Freehold
• Built-up size: 34,057 sq ft
• 9 storey office block
• Private lift
• Naming rights
• Unfurnished
• Nearby amenities: Mid Valley Megamall, Nexus Bangsar South, IWK Eco Park @ Pantai Dalam, KL1281 Southbank Residence bus stop, schools, residential developments, various small businesses and F&B outlets
• Accessibility: NPE, Federal Highway, Old Klang Road

When: December 2023

Glomac Bhd’s net profit jumped by over 800% to RM3.81 million for its third quarter ended Jan 31, 2024 (3QFY2024), from RM419,000 a year earlier, driven by higher revenue from its property development and property investment business.

The development is targeted for vacant possession (VP) in 1Q2025, which is about six months ahead of schedule from its initial expected completion date in 2Q2025. 

The summit also saw senior business leaders from China, Malaysia and Cambodia welcoming the newly launched Cambodia Malaysia China (CMC) High-Tech Park.

Net profit for the three months ended Jan 31, 2024, rose to RM141.01 million from RM106.29 million a year earlier.

CIMB Securities Sdn Bhd said that tender activities for Phase 1B of Sabah Pan Borneo Highway seem to be picking up with the award of several new contracts.

Revenue more than doubled to RM155.37 million from RM73.78 million in 4QFY2023.

The contract period will be 19 months, commencing from March 2024 with the expected completion by October 2025. 

Real Estate and Housing Developers Association (Rehda) Selangor, which aims to make homeownership accessible for all homebuyers in Klang Valley, expects at least RM350 million in sales at the upcoming Malaysian Property Expo (Mapex) Selangor 2024.