MGB wins RM186mil building job
In a filing with Bursa Malaysia, the construction and property development firm said the first phase will consist of a 32-storey block comprising 405 apartment units; a multi-storey podium car park and guardhouse.
Construction will commence on Sept 1, 2025 and be completed by Nov 30, 2027.
Meanwhile, the second phase will comprise a 31-storey block comprising 397 apartment units. MGB said construction will take up to 18 months.
'The contract will increase and enhance the existing order book of the company and its group of companies.
'With the contract in hand, the group's current outstanding order book is of approximately RM1.21bil,' it said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
4 hours ago
- The Star
Keyfield's 2Q25 net profit dips
The company's revenue dropped to RM131.97mil from RM198.98mil a year earlier. PETALING JAYA: Keyfield International Bhd aims to diversify its fleet of vessels to be able to serve different industries, with a longer-term objective of increasing the non-oil and gas sector to contribute up to 20% of total revenue. In a filing with Bursa Malaysia, the company said this augurs well for its prospects and sustainability as well as to weather any downturn in any one sector. For the second quarter ended June 30, 2025 (2Q25), Keyfield's net profit dipped to RM66.36mil from RM70mil in the previous corresponding quarter. Revenue dropped to RM131.97mil from RM198.98mil a year earlier. 'The decrease in revenue for own-vessels was mainly due to the lower number of chartered days in 2Q25, representing 74.6% utilisation rate for our own vessels during this period, as compared to 96.9% in 2Q24,' it said.
The Star
4 hours ago
- The Star
MNRB's 1Q25 revenue rises to RM976mil
MNRB's first-quarter net profit surged to RM168.43mil from RM92.20mil previously. PETALING JAYA: MNRB Holdings Bhd expects Malaysia's reinsurance and retakaful industry to sustain its growth trajectory in 2026, driven by regulatory enhancements, growing demand for financial protection and supportive government framework. In a filing with Bursa Malaysia, the wholesale providers of reinsurance and retakaful said Malaysia's current tariff exposure and constructive trade policies continue to support its competitiveness amid global trade challenges. For its first quarter ended June 30, 2025 (1Q25), MNRB's net profit surged to RM168.43mil from RM92.20mil, while revenue during the quarter rose to RM975.56mil from RM857.58mil a year earlier. 'This improvement was mainly driven by stronger insurance/takaful service results, supported by higher insurance/takaful revenue and lower insurance/takaful service expenses arising from better claims experience in the reinsurance business. 'The performance was further strengthened by higher net investment income, primarily from net fair value gains in equities and bonds following the rebound in Malaysian investment markets,' it said.
The Star
4 hours ago
- The Star
Johor Plantations sees stronger earnings for 2Q
The company said it remains prudently optimistic in navigating market dynamics. PETALING JAYA: Higher selling prices for both crude palm oil (CPO) and palm kernel (PK) has enabled Johor Plantations Group Bhd to see better earnings in its latest quarter. In a filing with Bursa Malaysia, the plantation company registered a higher revenue of RM398.2mil for the second quarter ended June 30, 2025 compared with RM360.9mil in the same quarter last year. Subsequently, net profit also rose to RM75.19mil for the quarter under review, higher than the RM49.74mil recorded in the second quarter in 2024. The company noted revenue for CPO sales increased 4.8% year-on-year (y-o-y) for the quarter under review to RM323.9mil with delivery volumes up 1.9% to 74,667 tonnes. 'PK sales saw revenue surge 46.1% y-o-y to RM73mil while outside crop purchase (OCP) recorded a 11.9% increase y-o-y in external crop purchases, reflecting the effectiveness of its strategy to boost OCP,' the company noted. According to Johor Plantations, for the first half of 2025, net profit increased 51% y-o-y to RM150.6mil while revenue grew 12.6% to RM738.7mil. It noted that while production volumes were lower y-o-y, higher CPO and PK prices boosted earnings, alongside stronger OCP that helped sustain throughput and strengthen profitability. Johor Plantations managing director Mohd Faris Adli Shukery said the strong performance was driven by disciplined efforts across its upstream segment and continued progress in expanding external crop sourcing. 'At the same time, we continue to enhance operational efficiency, optimise our inventory, and manage costs proactively, all guided by our steadfast commitment to sustainability, which remains at the heart of our long-term value creation,' he said. He added moving forward, the company is mindful of potential demand-supply imbalances in the CPO market, however, they are confident in their ability to navigate these conditions. 'Our focus remains on optimising price realisation, sustaining production growth, exercising rigorous cost control, increasing processing volume and advancing our downstream expansion,' he said. As the company moves into the second half of the year, it will expect seasonal production growth and remains prudently optimistic in navigating market dynamics. 'With this, the company is well-positioned to sustain its growth trajectory and deliver long-term shareholder value,' he said. The board declared a second interim dividend of 1.25 sen per share for the quarter, reflecting an earnings per share of 3.01 sen, rewarding its shareholders with a total dividend payout of RM31.25mil. Meanwhile, the company also announced that its chief financial officer (CFO) Aziah Ahmad will retire as of Sept 1, 2025. Aziah had been a vital member of the Kulim (Malaysia) Bhd and Johor Corp group since 2014, holding senior finance leadership roles She played a pivotal role in strengthening Johor Plantation's financial operations ahead of its initial public offering and in delivering the plantation industry's first sustainability-linked sukuk in 2024. She will be succeeded by Zain Azrai Zainal Abidin on the same date, who happens to be a certified public accountant with more than 27 years of experience. 'He joined the company in June as the deputy CFO and has been working together with Aziah to ensure a seamless leadership transition.'
