Excluding the asset disposal gain, financial year ended 2016 (FY16) net profit fell 18% year-on-year (y-o-y) due to higher administration costs, a lower revenue and weaker property margin.

Amid the tepid property market.

Excluding the share of loss from reclassification of holding in KL-Kuala Selangor Expressway Sdn Bhd from investment to associate, Bina Puri Holdings Bhd’s first financial quarter ended March 31, 2016 (1QFY16) core net profit of RM2.3 million came in below expectations, accounting for 17.5% of our full-year forecast. The variance was mainly due to slower-than-expected construction and property development progress and lower-than-expected property margin.

Project is expected to provide a steady recurring income.

Contractor-cum-property developer Binastra Land Sdn Bhd aims to launch its flagship and largest project – the RM1.3 billion Trion Kuala Lumpur – in Chan Sow Lin, an industrial area in Kuala Lumpur, at the end of the year.

Notably, it saw improved revenue and profit recognition in the year-to-date (YTD) period from the property and construction division from on-going development projects, namely Hill Park Shah Alam, Pelangi Heights, Kajang East, MKH Avenue, MKH Boulevard, SAville @ Kajang, Pelangi Semenyih, Saville @ Cheras and HillPark 3.

WCT Holdings Bhd is looking to sell off some assets to raise more than RM500 million, the proceeds of which it expects to use to reduce its net gearing to 0.5 times from 0.8 times currently.

UEM Sunrise Berhad and Telekom Malaysia Bhd (TM) will jointly undertake a high-rise mixed development project on the telecommunications giant’s Bukit Mahkamah land, along Jalan Raja Chulan in the city centre.

Group to receive 5% of estimated RM2.2b development cost

Deputy Works Minister Datuk Rosnah Abdul Rashid Shirlin said this cost included the cost of resolving caveat or objections in acquiring the land.