Oriental Interest's net profit rises to RM45.48mil in 3Q
The property development segment continued to be the key growth driver, with revenue increasing by 95 per cent in the current quarter, the group said in a Bursa Malaysia filing today.
Revenue surged to RM305.245 million from RM180.424 million previously.
"This growth was largely attributed to higher revenue recognition from construction progress of ongoing projects, and contributions from newly launched developments,' it said.
Despite ongoing challenges in both the property sector and the broader domestic economy, the group said it continued its upward trajectory in revenue and profitability, underpinned by strong property sales that reflect the quality and value of its developments.
"Looking ahead, the group remains well-positioned for continued growth, supported by unbilled property sales of approximately RM428.14 million as at the end of the reporting financial quarter.
"With healthy bookings and strong sales momentum, the group is optimistic about delivering another year of positive performance in FY2025,' it said. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Borneo Post
4 minutes ago
- Borneo Post
Istana Negara: Sultan Ibrahim to make historic state visit to Russia
His Majesty Sultan Ibrahim, King of Malaysia will make history as the first Malaysian Head of State to conduct a state visit to Russia since the establishment of diplomatic relations in 1967. – Bernama photo KUALA LUMPUR (Aug 2): His Majesty Sultan Ibrahim, the King of Malaysia, will undertake a state visit to Russia from August 5 to 10, 2025, at the invitation of President Vladimir Putin. In a statement today, Istana Negara announced that His Majesty will make history as the first Malaysian Head of State to conduct a state visit to Russia since the establishment of diplomatic relations in 1967. 'This visit also reflects the important role of the Malaysian monarchy in advancing the nation's diplomacy,' it said. Istana Negara added that the visit will not only strengthen existing bilateral relations but also open new avenues for cooperation in various fields, including trade, higher education, technology, innovation, and people-to-people ties. As ASEAN Chair in 2025, Malaysia will also play a major role in enhancing strategic cooperation, particularly in the context of Russia's status as an ASEAN Dialogue Partner since 1996, it added. While in Moscow, Istana Negara said His Majesty Sultan Ibrahim will be accorded a state welcome ceremony at the Kremlin by President Vladimir Putin, followed by an official meeting between the two Heads of State. 'His Majesty will also attend a state banquet hosted by the President of the Russian Federation,' Istana Negara said. His Majesty is then scheduled to visit the Central Scientific Research Automobile and Automotive Engines Institute (NAMI) as well as the Tochka Kipeniya Technology and Innovation Hub. After concluding his programme in Moscow, His Majesty will travel to Kazan in the Republic of Tatarstan on Aug 8, 2025. Tatarstan is one of Russia's autonomous republics, with a Muslim-majority population. In Kazan, Istana Negara said His Majesty will be granted an audience with the Rais (Head) of the Republic of Tatarstan, Rustam Minnikhanov, and will tour a helicopter manufacturing and assembly facility. – Bernama King of Malaysia lead Sultan Ibrahim Sultan Iskandar Vladimir Putin
The Sun
4 minutes ago
- The Sun
Legoland Malaysia eyes growth with JS-SEZ and tourism initiatives
ISKANDAR PUTERI: Legoland Malaysia is positioning itself to benefit from growing cross-border activity within the Johor–Singapore Special Economic Zone (JS-SEZ) alongside increasing tourism initiatives ahead of the Visit Johor Year 2026 (VJY 2026) campaign. Legoland Malaysia Resort vice-president Cs Lim said the rising prominence of the JS-SEZ as an economic gateway between Johor and Singapore presents Legoland Malaysia with new growth opportunities to attract more tourists in the coming years. 'If this initiative grows and more companies set up or relocate here, it will naturally bring more people to the area. 'When that happens, we can expect more visitors coming to explore the surroundings, including Legoland Malaysia,' he told Bernama after officiating the new Miniland Singapore here on Friday. The event was jointly officiated by Singapore's Ministry of Foreign Affairs vice-consul Lim En Wei and Johor Tourism, Arts and Culture Ministry (MOTAC) director Nurazlin Abu Talib. First introduced in 2012, Legoland Malaysia's Miniland Singapore has been reimagined in celebration of Singapore's 60th anniversary. The refreshed attraction features 16 impressive new models built from over 1.5 million Lego bricks. Highlights include iconic landmarks such as the Marina Bay Sands, the Singapore Flyer, the Merlion Fountain, as well as the Cloud Forest and Flower Dome. Meanwhile, Lim said Legoland Malaysia has continued to reinvest in facilities and attractions to enhance visitor experience and stay competitive in the evolving tourism landscape. He said Legoland's role in drawing domestic and international visitors is expected to further support economic activity in Johor. He added that the company has seen a steady increase in visitors over the years, buoyed by strong demand from its resident market, namely Malaysia and Singapore, which account for about 60 per cent of total visitors. The remaining 40 per cent comprises tourists from Indonesia, China, the Philippines, Australia and South Korea, among others. Lim said Legoland Malaysia remains upbeat about its outlook for the second half of the year and into next year, which will see both VJY 2026 and Visit Malaysia 2026 campaigns running concurrently. 'We're already making preparations, including fine-tuning our queuing and ordering systems, and we are also making sure that we have sufficient technical expertise at hand,' he added. - Bernama
The Sun
34 minutes ago
- The Sun
Govt tackles cost of living with Rahmah Sales and wage hikes
PUTRAJAYA: The government is adopting a two-pronged approach to tackle the rising cost of living, namely by expanding the MADANI Rahmah Sales Programme (PJRM) and raising the minimum income floor to boost disposable income. Deputy Minister of Domestic Trade and Cost of Living Datuk Dr Fuziah Salleh said the PJRM initiative allows the public to purchase essential goods at more affordable prices through discounts, ultimately helping them save more. 'We face challenges in controlling global market prices. For instance, when we import goods like onions, which we rely on 100 per cent from external sources, prices are dictated by the international market. Although we can't control global prices, the government intervenes by implementing initiatives such as Rahmah Sales to offer discounts. 'This means, when people have limited disposable income, programmes like Rahmah Sales help make essential goods more accessible. Without such intervention, how can the people make the most of their remaining income?' she said in an exclusive interview with Bernama recently. She emphasised that the government's two-pronged approach, which focuses on enhancing disposable income and regulating the prices of essential goods, is a crucial step toward alleviating financial pressures on the people. 'The government is helping by increasing the income floor, which means improving people's income and ensuring that their disposable income rises. At the same time, we are controlling the prices of essential goods,' she said. 'Therefore, if anyone suggests that only one approach is sufficient, that's inaccurate. The government has to, and is implementing both simultaneously,' she said. Fuziah said, for example, the government has taken various steps to increase the people's income floor, including raising the minimum wage, adjusting the salaries of civil servants and setting the minimum wage rate, efforts aimed at ensuring people have more spending power. She also highlighted the government's commitment to expanding PJRM, noting that the allocation has been doubled from RM300 million to RM600 million this year, the programme can be held more frequently and expanded to cover all 600 state constituencies (DUN) nationwide.. 'With RM300 million, Rahmah Sales could be held twice a month in each state constituency. With the increased allocation, the programme can now be held four times a month, or once every week, in each DUN. 'For example, if a parliamentary constituency has three DUNs, Rahmah Sales can rotate locations weekly. If someone misses the sale this week, they can visit another nearby DUN the following week. We ensure that these sales are always available and easily accessible. It has become one of the most popular initiatives among the public,' she said. Meanwhile, regarding the proposal to expand the list of Basic Rahmah Contribution Assistance (SARA) items, Fuziah explained that the initiative is under the Ministry of Finance (MOF), while the KPDN always conveys the feedback received from the people to the relevant parties. 'MOF is listening and will continue to add to the SKU (stock keeping unit) list. I saw it myself when I went to the supermarket where even women's essentials have various brands included, and so are instant noodles,' she said. She said that improving the list of SARA items is a continuous process that is carried out based on the needs and feedback of consumers. 'The government is always listening to the people's needs, and improvements will be made accordingly,' she added. Fuziah also reaffirmed the government's commitment to maintaining a fair and transparent business development ecosystem, free from cartel interference. She said this is being pursued through various mechanisms under the ministry's supervision, including the Malaysian Competition Commission (MyCC), oversight of profiteering activities, and supply chain management. 'We monitor all aspects of the market. We have price inspectors, enforcement teams, and several legislative instruments in place to ensure fairness and transparency,' she said. The ministry, she said, also conducts routine price monitoring through the Price Catcher application and regular inspections by enforcement officers. 'These efforts ensure that business development in the country is well-regulated and equitable for all parties,' she said. - Bernama
