News

YTL Corp’s Third Quarter Sees 20% Surge in Net Profit Driven by Increased Contribution Across All Business Segments

"YTL Corp's net profit rose to RM496.23 million from RM414.14 million, despite revenue decreasing to RM7.21 billion from RM7.33 billion, according to Thursday's filing." KUALA LUMPUR, 24th May 2024 - YTL Corp Bhd reported a 19.8% rise in net profit for its third financial quarter ending March 31, 2023 (3QFY2024), driven by increased earnings across all its business segments, including construction,...

Perak Awaits Federal Govt Approval for New Airport Study

"The airport is vital to fulfill the state's needs for investment, especially from Lumut Maritime Industrial City (LuMIC), which could bring in up to RM72 billion in investments over the next 25 years." KUALA LUMPUR, 23th May 2024 - The Perak state government is awaiting federal government approval for Colebrand International Ltd, a UK-based mega infrastructure engineering company, to begin a field...

Smart Buildings: The Future of the Real Estate Industry

"Technological advancements are transforming real estate, with smart buildings enhancing user experience, sustainability, and efficiency, says MIPFM president." KUALA LUMPUR, 21th May 2024 - The Malaysian Institute of Property and Facility Managers (MIPFM) reports that technological advancements, including artificial intelligence and advanced data analytics, are transforming the real estate industry...

Berjaya Land CEO Predicts Full Sellout for Times Square 2

"Berjaya Times Square Sdn Bhd (BTS) is optimistic that its recently launched Times Square 2 residential project will be fully sold by the end of the year." KUALA LUMPUR, 20th May 2024 - Berjaya Times Square Sdn Bhd (BTS) is optimistic that its recently launched Times Square 2 residential project will be fully sold by the end of the year. BTS executive director Syed Ali Shahul Hameed expressed...

Thong Guan teams up with Kedah agency to develop RM200mil GDV property project

"The group announced in a Bursa Malaysia filing that the project will be developed on a 20-acre plot, without disclosing its location." KUALA LUMPUR, 17th May 2024 - Plastic packaging manufacturer Thong Guan Industries Bhd (KL:TGUAN) is collaborating with the Kedah State Development Corporation (PKNK) to develop 221 shop and office units, with an estimated gross development value (GDV) of RM200...

PM wants 100 trees planted for every tree felled in KL

"Prime Minister Datuk Seri Anwar Ibrahim today ordered the planting of 100 trees for every unnecessary tree that is felled in the city." KUALA LUMPUR, 16th May 2024 - Prime Minister Datuk Seri Anwar Ibrahim has mandated the planting of 100 new trees for each unnecessary tree removed in the city. In a post on X (formerly Twitter), Anwar stated that he has given this directive to Kuala Lumpur...

BCB buys land in Batu Pahat, Johor for RM83.71mil

"BCB said it plans to develop the land into a mixed-use development featuring both residential and retail, with an estimated gross development value of RM1.1 billion spanning over eight years." KUALA LUMPUR, 15th May 2024 - Property developer BCB Bhd (KL) is acquiring 59 parcels of freehold land in Batu Pahat, Johor, totaling around 286.82 acres, for RM83.71 million from oil palm grower Lian Hup Seng...

Paramount Corp aims to acquire more land to sustain growth

"Group CEO and executive director Jeffrey Chew Sun Teong mentioned that to achieve a 7% profit margin in the Malaysian market this year, the company needs to acquire more land for new projects." PETALING JAYA, 14th May 2024 - Paramount Corporation Bhd (PCB) plans to keep investing in and expanding its land holdings in Malaysia to support its growth, while also exploring international...

BNM keeps overnight policy rate unchanged as widely expected

"Malaysia's economy aims 4%-5% growth, focusing on consumer spending, investments, and external demand." KUALA LUMPUR, 10th May 2024 - On Thursday, Malaysia's central bank opted to keep the benchmark interest rate steady, as anticipated, noting an uptick in economic activity alongside manageable inflation. Bank Negara Malaysia (BNM) announced that the overnight policy rate (OPR) would remain at 3%...

Govt had nothing to do with police probe into Forest City casino issue — Fahmi

"The government did not issue any directive for an investigation, but because there was a police report, the police initiated an investigation according to standard procedures." KUALA LUMPUR, 9th May 2024 - Communication Minister Fahmi Fadzil (shown in the image) emphasized that the police inquiry into the news article regarding the proposed casino development in Forest City, Johor, was not instigated...

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