Since stepping into the role of S P Setia Bhd's president and chief executive officer on Oct 1 last year, Datuk Choong Kai Wai has been busy working behind the scenes at one of Malaysia's largest property developers.
KUALA LUMPUR: SP Setia Bhd has sped towards achieving its sales target of RM3.8bil following a strong sales performance of RM2.71bil in the first half of the year.
KUALA LUMPUR (Jan 7): CGS-CIMB Research gathered that S P Setia Bhd plans to launch projects worth up to RM3.7 billion in gross development value (GDV) in financial year 2021 (FY21), versus the RM2.8 billion planned GDV in FY20F, out of which about 94% will be in Malaysia. Some 54% of the total new launches would be projects with properties priced below RM1 million each, with the rest comprising properties priced above RM1 million each. In terms of product mix, about 67% will be landed residential units, followed by condominiums and apartments (14%), commercial units (9%), serviced apartments (4%), affordable housing (4%), and industrial units (2%), said CGS-CIMB analyst Ngo Siew Teng in a report today.
KUALA LUMPUR (Dec 24): WCT Holdings Bhd said it has executed an articles of agreement with MRCB George Kent Sdn Bhd (MRCBGK), following the latter s appointment as a turnkey contractor for the Light Rail Transit 3 (LRT3) project, which entails a revision of the scope of works and a new contract price of RM819 million.
In a bourse filing, the group said the revision relates to packages GS02 and GS03, which were previously awarded to WCT in 2017 with contract sums of RM840 million and RM640 million respectively.
However, following the changes in design and scope of the LRT3 project, both WCT and MRCBGK agreed to a new revised contract price of RM819 million. The completion date for the LRT3 project has also been revised to Nov 30, 2023, said WCT.