Lifestyle project to drive Magna’s revenue
By THE STARKUALA LUMPUR: Magna Prima Bhd is confident of clear earnings visibility at least over the next four years, thanks mainly to its newest project, Magna City.Executive director and chief executive officer Lim Ching Choy said the company was targeting revenue of about RM1.6bil over the four-year period.“The projected revenue will be largely driven [...]
Mah Sing Q1 net profit rises 25% to RM22.3mil
By THE STARPETALING JAYA: Mah Sing Group Bhd reported 25% jump in net profit to RM22.31mil for the first quarter ended March 31 compared with RM17.9mil in the previous corresponding period.In a statement, the company attributed the higher net profit on revenue of RM140.7mil to contribution from nine projects in first quarter compared with seven [...]
Property scene in Vietnam still good
By THE STARPETALING JAYA: The Vietnamese economy is going through a tough period with high inflation, a poorly performing stock market and a depreciating currency but Malaysian investors there are not unduly worried at the moment.“A cooling off in the economy, which has recorded an average gross domestic product growth of 8% in the past [...]
Magna Prima targets fivefold jump in revenue
By BUSINESS TIMESThe developer expects the RM1.1 billion Magna City along Jalan Kuching to be its major contributor to the estimated future revenue of RM1.6 billionPROPERTY developer Magna Prima Bhd is targeting revenue to increase fivefold to RM1.6 billion in four years, contributed mainly by Magna City Kuala Lumpur, its five-in-one integrated lifestyle development.The RM1.1 [...]
IGB to start building St Giles hotels next year
By BUSINESS TIMESIGB Corp Bhd hopes to begin construction of its St Giles hotels in Bangkok, Thailand and Sydney, Australia next year, which it will then manage.”In Bangkok, we are trying to finalise the deal. We are looking for a strategic partner. We have identified and are in negotiations with a few parties,” managing director [...]
IGB expanding Mid Valley development
By THE STARRobert TanKUALA LUMPUR: IGB Corp Bhd is expanding its Mid Valley City development, which would see the group launching two 42-storey blocks of condominiums.Group managing director Robert Tan said the two blocks would have a gross development value of RM750mil. The units are due for launch by the third quarter.The condominiums, which would [...]
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