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The group expects an increase in net profit of around RM7 million, as two of the three LSS4 projects are scheduled to be commissioned by May 2023.

The current non-bank interest rates stand at 12% for mortgage loans and 18% for non-mortgage loans.

En added that on adjudication alone, fees worth hundreds of millions have been paid by disputing parties since its inception and this does not include legal expenses incurred at various courts and arbitration.

The proposed Kulim airport "cannot be considered under current conditions”, said Anwar.

The developer said Menara YNH has been conceptualised to be a hallmark mixed development consisting of serviced apartments, hotels, SoHo, offices, as well as retail space strategically located within the central business district of Kuala Lumpur.

In comparing the revised budget and the previous October budget, the honorary secretary-general of HBA Datuk Chang Kim Loong has expressed the association’s support, concern and disappointment on matters relating to the Malaysian property sector.

Anwar stressed the government’s aim is to alleviate the rakyat’s struggles amidst the economic challenges, while ensuring a sustainable fiscal growth for the nation.

Unitholders also approved a private placement of up to 1.

“With a strong pipeline of projects that are rightly designed for the current market conditions and targeting the right buyer segment, we are confident to achieve our sales target of RM 2.

IGB noted that the outlook of the office market in the near term remains volatile as there is an imbalance in the office supply-demand dynamics coupled with the fierce competition.