IGB Corp / Tan Chin Nam

[winston]

vested

IGB Bhd's net profit for the first quarter ended March 31, 2023 (1QFY2023) climbed 31.24% year-on-year to RM56.07 million from RM42.72 million on higher revenue due to improved contributions from the group's operating segments.

Its quarterly revenue grew 37.43% year-on-year to RM396.06 million from RM288.19 million.

Source: The Edge

[winston]

Embracing a new future

He is looking for older buildings within the city centre and its vicinity that are close to public transportation to repurpose.

Also, a new project is taking form in Bangkok, Thailand, although details are still being fleshed out.

Source: theedgemalaysia

https://theedgemalaysia.com/node/677468

[winston]

not vested

IGB’s 2Q net profit more than doubles on higher revenue, increased forex gains

By Justin Lim

IGB Bhd’s net profit more than doubled to RM112.04 million in the second quarter ended June 30, 2023 (2QFY2023), from RM49.79 million a year earlier, on the back of a higher revenue and increased forex gains.

Earnings per share rose to 8.30 sen, from 3.68 sen.

Revenue increased 24.92% to RM382.25 million, from RM306 million in 2QFY2022, thanks to higher revenue contribution from all its businesses.

On prospects, IGB said a shortage of workers, higher operating costs, more intense competition and expansion plans remain as key challenges to the domestic retail industry in 2023.

“The retailers’ profit margins would be depleted unless such cost escalations could be passed onto domestic consumers in the form of cost-pushed price hikes,” the property group said.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/680842