Central to the issue is the liquidated ascertained damages (LAD) claimed by the homebuyers, purportedly for late delivery of the property, despite being granted the EOT by the government before the SPA was signed.
The latest contract is Ahmad Zaki's second win from the public works department in 2024.
In a note on Thursday, the research house said this negative variance was primarily due to higher-than-anticipated project operating costs and tax expenses.
In February this year, CLMT acquired three prime freehold ready-built factories in Nusajaya Tech Park in Iskandar Malaysia from Nusajaya Tech Park Sdn Bhd for a total RM27 million, marking the trust's entry into the industrial market, as it diversified its geographical footprint to Johor.
This is AME REIT’s second acquisition from AME Elite within 10 months.
"This resilience is partly due to increased disposable income from EPF Account Three withdrawals, which has helped mitigate some living cost pressures,” said Tan Choon Siang, the chief executive officer of the trust's manager, CapitaLand Malaysia REIT Management Sdn Bhd.
For the full year, Gadang returned to the black with a net profit of RM4.
CLMT attributed the improved earnings mainly to contribution from Queensbay Mall, which it acquired in March 2023, and better performances of Gurney Plaza, Sungei Wang Plaza, 3 Damansara and Valdor Logistics Hub.
DONE DEAL: Condo, Verticas Residensi, Bukit Bintang, Kuala Lumpur DONE DEAL: Serviced residence, United Point, Segambut, Kuala Lumpur As Bukit Orkid is a little small, our analysis will include the surrounding neighbourhoods in Northern Cheras.
The target is to build 2,000 to 3,000 units of affordable houses with solar power on the roofs, two-metre wide walkway and bicycle lanes with internet connectivity.
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