Daily Industry News Update (27 August 2022)

MBSB 2Q net profit down 64% on higher opex, net impairment allowance

Malaysia Building Society Bhd’s (MBSB) second quarter net profit slipped 64.7% to RM142.3 million, from RM403.4 million a year ago, due to higher operating expenses (opex) and net impairment allowance.

UEM Sunrise’s property sales on track, says analyst

UEM Sunrise Bhd’s property sales target for the financial year of 2022 (FY22) is expected to be on track given the more aggressive launches and ongoing monetisation of its inventory.