Guocoland posts Q3 loss, sees lacklustre property market

Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.

KUALA LUMPUR:  Guocoland (M) Bhd, the property firm controlled by billionaire Tan Sri Quek Leng Chan reported a loss in the third quarter ended March 31 on lower sales of completed units.

The company expects the domestic property market to remain lacklustre in the subsequent period of year 2019 due to the continued weak market and consumer sentiments.