News about KL

In a Bursa Malaysia filing on Thursday, the group said it has entered into a sale and purchase agreement with Array Metal (M) Sdn Bhd for the proposed disposal on Oct 12.

The company had completed the purchase of the freehold land, together with a unit of three-storey semi-detached factory erected thereon, in December 2022 for RM5.

The existing property is a luxury condominium with a gross development value (GDV) of RM820 million.

The construction segment’s profit before tax (PBT) surged more than seven-fold to RM8.

According to RHB Investment Bank (RHB IB), which has received insights from real estate agency Knight Frank Malaysia, a lot of infrastructure projects, property developments, facility expansions and investments are “brewing” in Iskandar Malaysia, which is formed by major cities in Johor.

Tan Kian Aun, president of Malaysian Institute of Estate Agents: While property investors want to maximise their returns on investment, we also need to take into consideration of safety and also overcrowding of the apartment.

"The group has expressed interest in exploring global assets to add to its portfolio, but would prioritise improving the efficiency of its local operations first.

CGS-CIMB said cement industry's prospects will look brighter post the fourth quarter of calendar year 2023 once there is clarity on the MRT3, Bayan Lepas Light Rail Transit and HSR, which have a combined value of circa RM90 billion.

"These office assets continued to anchor the group’s stable performance, recording an increase in revenue and PBT of RM145.

The company stands to incur a gain of approximately RM7.