News about co

The expected gain from the proposed disposal is RM3.

Property developer Ecofirst Consolidated Bhd (KL:ECOFIRS) said on Monday its net profit for the fourth quarter more than doubled from a year earlier thanks to higher sales conversion rate for the KL-48 project.

Ranjan Chandran, a consultant at Messrs Hakem Arabi & Associates: “The ruling on limitation from the date of execution of the SPA does not seem fair to homebuyers [if a] housing development project had not taken off after the SPA is signed and if there [is] a breach that can be ascertained when vacant possession is only been given.

The six-month extension to Jan 27, 2025 will provide Ekovest and Knusford with additional time to evaluate and deliberate the terms of the definitive agreement for the proposed merger.

The company expects the contract to contribute positively to its earnings for the financial year ending Dec 31, 2024 and until the contract expires.

Senior lawyer Leonard Yeoh said that the decision ensures that nobody takes advantage of the law to the detriment of another.

What now for homebuyers? Homebuyers can be rest assured that their right to claim for damages for late delivery of vacant possession remains unchanged.

REHDA Malaysia president Datuk Ho Hon Sang: “We would also like to reiterate that we are not in favour of unnecessary extension of time unless for very valid reasons, developers must honour the terms in the contracted sales to deliver within the time allowed by the law.

Federal Court judge Datuk Seri Hasnah Mohammed Hashim said said homebuyers cannot rely on the Ang Ming Lee decision as a "carte blanche" in order to make financial gain against developers who had obtained EOT prior to that landmark decision.

In a trading stocks note on Friday, the research house said the counter is seen moving sideways below the 64 sen resistance.