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Selangor Properties Q3 profit jumps 70%

PETALING JAYA: Selangor Properties Bhd (SPB) has registered a 70% growth in net profit to RM33.2mil for the third quarter ended July 31, 2018 (3Q18), compared to the corresponding quarter last year.

In a Bursa Malaysia filing, SPB said it was increasing marketing efforts to drive sales of units in AIRA Residence project. (File pic shows model of Aira Residence project)

Eco World posts 47.6% higher net profit

PETALING JAYA: Eco World Development Group Bhd registered a net profit growth of 47.6% to RM38.5mil for the third quarter ended July 31, boosted by its home ownership campaign #OnlyEco-World launched in June as well as its EcoWorld Help2Own (EW-H2O) financing package.

EcoWorld president and CEO Datuk Chang Khim Wah(pic) said the intense social media and digital marketing drive over the last three months has been very successful in reaching out to its target customers.

New stream of money inflow for Malaysian Govt

PETALING JAYA: The government, which had previously identified at least RM10bil worth of spending cuts, plans to further strengthen its cashflow by monetising some of its non-strategic assets and gradually issuing new sovereign debts

Alliance Bank Malaysia Bhd chief economist Manokaran Mottain told StarBiz that the monetisation of the government’s non-critical and non-strategic assets would create a new stream of money inflow and help to deal with any shortfall in revenue.  “It makes sense for the government to do away with such assets that are non-productive and left idle."

Glomac quarterly net profit down 32%

PETALING JAYA: Glomac Bhd’s net profit for the first quarter ended July 31 dropped 31.61% to RM1mil on the back of a 40.13% drop in revenue to RM57.61mil.

For the period, gross profit margins, however, improved due to cost savings from completed projects and its cash flow from operations also turned positive. For the quarter, Glomac’s revenue was mainly contributed by progress billings from Bandar Saujana Utama, Sri Saujana and Saujana KLIA. (Filepic shows a model of a Glomac project)

RHB: Malaysia's real GDP growth at 5% in 2018-2019

KUALA LUMPUR: RHB Research expects Malaysia's real gross domestic product (GDP) to grow at five per cent this year and next year, slower than the 5.9 per cent achieved in 2017 due to weakening external demand.