News about property

The property segment’s revenue was driven by higher property progress billings coupled with the disposal of several parcels of land.

"Going forward, Sime Darby Property looks to add more industrial products into its mix, which are made up mostly of residential projects, landed or high-rise.

Last Friday, Prime Minister Datuk Seri Anwar Ibrahim reportedly said the government's bid to create a special financial zone in Forest City is meant to boost investment, growth and economic activities in Johor.

Sime Darby Property said it had recorded sales totalling RM1.

RHB Research said the designation of Forest City, which is close to the Second Link, as a special financial zone should revitalise the township, which had received a lot of negative attention over the last few years.

Quarterly revenue rose 4.

The group said that due to Malaysian Financial Reporting Standards' (MFRS) 15 accounting treatment, the development profit from two of the group’s ongoing Singapore property development projects will only be recognised upon their completion and handover.

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

DONE DEAL: Serviced residence, Residensi Damansara Glomac, Kuala Lumpur DONE DEAL: Bungalow, Kajang, Selangor Situated in the affluent neighbourhood of Damansara Heights, Kuala Lumpur, the bungalow is surrounded by an array of conveniences.

The rating of the sukuk programme of AA +IS has been affirmed by MARC Ratings Bhd with a stable outlook, the group said.