PETALING JAYA: Paramount Corp Bhd's net profit for the second quarter ended June 30, 2018 more than doubled to RM42.30 million from RM18.08 million a year ago mainly attributed to the disposal of 9.4 acres of industrial land in Kota Damansara.
Its revenue stood at RM278.37 million, an increase of 47% compared with RM189.72 million reported in the corresponding quarter last year with higher contribution from the property and education divisions.
For the six months period, its net profit rose 86% to RM49.27 million from RM26.46 million a year ago due to the Kota Damansara land disposal and higher profit from the education division.
Its revenue stood at RM440.61 million, an increase of 31% compared to the RM336.51 million in the corresponding period last year with higher contribution from both the property and education divisions.
The group is targeting to launch in 2018 a mixed development project located in the vicinity of Klang’s main business and commercial area, where the group will also be constructing a new Sri KDU international school. This is in line with the group’s strategy to derive synergy from its strong branding and expertise in its property and education businesses.
In line with the group’s asset light strategy, it will continue to pursue sale and leaseback of education assets and build strategic partnerships to undertake property development projects on joint venture basis if such opportunities arise. In addition, the group seeks to unlock value through the monetisation of land bank and strategic divestments.
Barring any unforeseen circumstances, the group is expected to deliver a better operating performance for the current financial year ending Dec 31, 2018.
PETALING JAYA: Pesona Metro Holdings Bhd’s shares gained 3.27% to 31.5 sen on early trade after its joint venture (JV) with Intrasegi Sdn Bhd has been awarded a contract worth RM218.22 million for the construction of an office in Kuala Lumpur.
At 10.50 am, the stock was trading at 31 sen with 10.03 million shares done.
In a filing with Bursa Malaysia on Friday, the group said the contract was awarded to Intrasegi Sdn Bhd-Pesona Metro Sdn Bhd JV by Pembinaan Kery Sdn Bhd, a wholly owned subsidiary of Melati Ehsan Holdings Bhd.
The contract is for the construction and completion of superstructure works, external works within boundary, associated works and ancillary buildings of the project located at Jalan Conlay.
The project is for a duration of 26 months commencing Sept 1, 2018 and ending on Oct 31, 2020.
The project, which will be funded via internal generated funds, is expected to contribute positively to the earnings and enhance the net assets of the group during the duration of the project.
KUALA LUMPUR (Aug 20): DRB-Hicom Bhd shares gained as much as 22 sen or 9% to RM2.58 so far today after 50.1%-owned subsidiary Proton Holdings Bhd and Zhejiang Geely Holding Group signed on Saturday a heads of agreement to form a joint venture (JV), under which Proton will assemble and market cars in China. It was reported that Proton and Zhejiang Geely target to incorporate the JV within the first half of 2019, subject to obtaining all regulatory approvals. At Bursa Malaysia today, DRB-Hicom shares pared gains at RM2.47 atRead More
KUALA LUMPUR, Aug 18 — Proton Holdings Bhd and Zhejiang Geely Holding Group today signed a Heads of Agreement to set up a joint venture that will pave the way for Proton to assemble and market their cars in China. Both companies will take up equal…
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KUALA LUMPUR: Dialog Group Bhd’s net profit jumped 10.9% to RM114.85 million in the fourth financial quarter ended June 30, 2018 (4QFY18) from RM103.55 million a year ago, on lower operating expenses, improved other operating income and an increase in the group’s share of joint ventures and associates’ net profit that was mainly contributed by Pengerang LNG (Two) Sdn Bhd. Earnings per share were higher at 2.04 sen for 4QFY18 compared with 1.88 sen for 4QFY17. Quarterly revenue, however, fell 37.3% to RM607.13 million, from RM968.95 million in 4QFY17,Read More
BEIJING, Aug 16 — Toyota Motor Corp is likely to make 120,000 more cars a year in the Chinese port city of Tianjin as part of a medium-term strategy that’s gathering pace as China-Japan ties improve, said four company insiders with knowledge of…