News about property developer

Shares of S P Setia has surged 95% so far this year, significantly outperforming the property sector’s 25% year-to-date increase, due to the slew of one-off gains.

Other developers on the Top 10 list were: Sunway Bhd — property division (No 2), S P Setia Bhd (joint No 3), Sime Darby Property Bhd (joint No 3), UOA Development Bhd (joint No 3), IOI Properties Group Bhd (No 4), IJM Land Bhd (No 5), Eco World Development Group Bhd (No 6), UEM Sunrise Bhd (No 7), Mah Sing Group Bhd (No 8), Matrix Concepts Holdings Bhd (No 9) and IGB Bhd (No 10).

Majuperak is selling back the stake in Nexusbase Development Sdn Bhd to the vendor at the original sum of RM12.

"This is a unique and meaningful award based totally on merit and judged independently by peers, unlike many other commercially-driven awards.

The developer has taken the No 1 spot for the fourteenth time, ever since the awards were established in 2003.

KUALA LUMPUR (Nov 7): The High Court in Johor Bahru on Sunday ordered ex-Johor executive council member Datuk Abd Latif Bandi, his son and a former real estate consultant to enter their defence against 37 corruption and money laundering charges involving more than RM30 million as the prosecution had proven a prima facie case against the accused, who were charged in 2017 for receiving bribes from property developers who requested for the change in bumiputra land status in Malaysia.

KUALA LUMPUR (Sept 29): Malaysian banks are not directly exposed to embattled property developer China Evergrande Group as they are more concentrated in the Southeast Asian region, says S&P Global Ratings.

KUALA LUMPUR (Aug 10): Muar Ban Lee Group Bhd (MBL) has emerged as the largest shareholder of property developer Symphony Life Bhd, with a combined direct and indirect stake of 17.

KUALA LUMPUR (Dec 17): Hong Leong Investment Bank (HLIB) Research expects property developers to continue facing a tough operating environment in 2021, with developers cautiously carrying out launches and offering discounts on their products.

PETALING JAYA (Dec 14): Property developer S P Setia has taken the top spot in The Edge Malaysia Top Property Developers Awards (TPDA) 2020, making this their fifth consecutive win.