EXAL Group officially unveiled its new show village for the SÓL Estate residential development. The event dubbed A Blossoming SÓL took place on Feb 17 at SÓL Estate itself on Jalan Batu Kawa in Kuching.

Shares of Glomac Bhd surged to its highest in three years, as investors and analysts bet on better sales and margins ahead, even after the property developer reported weaker-than-expected results.

Malaysian property developer S P Setia Bhd plans to continue cutting its debt as well as sell more unimportant assets and improve its investment properties for a potential real estate investment trust (REIT).

The Holiday Inn Express hotel in the Kuala Lumpur city centre has been put up for sale by its privately owned owner Winbond Group, according to real estate firm Colliers.

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.