2 September 2013
Mudajaya plan into a joint ventures with its sister company, Mulpha land for the development of Tropicana Land. The land that measures about 6.41 acre has the potential GDV of RM700m for mixed residential or commercial development.
In this venture, Mudajaya will have a 49% stake and the company’s outlay will be RM11.86m. However, Mudajaya will be ascribing the stake in Tropicana Land at a premium given the preliminary works done by Mulpha Land and potential construction profits.
The development of this project with Mulpha land is believe to be a stimulation for Mudajaya’s share price.
MRCB secures a rehabilitation projects of phase 3 of the Sungai Pahang estuary rehabilitation project for RM130m from the Department of Irrigation and Drainage, expected to complete by september 2015.
Bonia Corporation Bhd’s earnings jumped more than three-fold to RM5.0m in the 4Q ended June 30, 2013, and declared a 5 cents dividend. Despite the increase of selling cost, Bonia had gain about 13 million profit before tax compared to 1.7 million YoY.
Muhibah engineering announce its 2Q earning which rosen 21.5% YoY, despite the revenue decreased by 35% to about RM407 million.