GEORGE TOWN: Affordable housing, widely sought after by the growing middle-income group, has led local developer Aspen Group to launch the first affordable development project to cater to this community.

KUALA LUMPUR: Property developer UOA Development Bhd is looking to roll out two projects, one in Old Klang Road and the other in Sentul over the next few months.

UOA Development general manager Eugene Lee said the gross development value (GDV) of the two projects totals RM840 million and is expected to contribute to the company’s sales for financial year 2014 (FY14).

KUALA LUMPUR: KSK Group Bhd is estimating RM1.8 billion in gross development cost for its maiden mixed-use Conlay 8 project in Jalan Conlay.

KSK Land Sdn Bhd managing director Joanne Kua said the company is currently waiting for the development order to be approved by Kuala Lumpur City Hall.

KUALA LUMPUR: Its property development division will remain Hap Seng Consolidated Bhd’s key earnings contributor. Hap Seng is set to launch development projects with a combined gross development value (GDV) of RM1 billion, said its managing director Datuk Edward Lee.

KUALA LUMPUR: IGB Corp Bhd is well-stocked with domestic and international property development plans worth a total of RM15 billion in gross development value (GDV) for the next three to five years.

KUALA LUMPUR: Property and education group Paramount Corp Bhd announced three key appointments yesterday, including that of senior banker Jeffrey Chew as its new group chief executive officer (CEO) effective July 1.

KUALA LUMPUR: While the memory of Sime Darby Bhd paying a hefty premium for a 30% stake in Eastern & Oriental Bhd (E&O) is still fresh in investors’ minds, the conglomerate yesterday announced that it intends to sell a 9.9% stake back to E&O managing director Datuk Terry Tham Ka Hon at RM2.90 per share — which is 26% higher than the price it paid three years ago.

UEM Sunrise Bhd
(May 27, RM2.19)
Maintain buy with target price of RM2.78: For the first quarter ended March 31 of financial year 2014 (1QFY14), UEM Sunrise delivered a net profit of RM61 million on the back of RM401 million in revenue. This accounted for only 10% of our full-year estimate (consensus: 12%).

KUALA LUMPUR: Property cum plantation company MKH Bhd’s net profit jumped fourfold to RM50.7 million in its second quarter ended March 31 of financial year 2014 (2QFY14) from the RM12.7 million in the previous corresponding period.

Revenue surged 37% to RM188.1 million from RM137.2 million, while earnings per share grew to 12.1 sen in 2QFY14 from 3.08 sen in 2QFY13.

KUALA LUMPUR: IJM Corp Bhd saw its net profit for the fourth quarter ended March 31, 2014 (4QFY14) fall 87.3% year-on-year (y-o-y) to RM8.24 million, weighed down by its share of joint venture losses arising from the impairment of certain concession assets in India and Malaysia.