News by BIMB Securities Research

This acquisition marks Ayala Land’s growing presence in MCT after it acquired 9% in April 2015 before increasing this to 33% in October 2015.

With the latest project, we remain positive about the group’s outlook as this will enable them to continue playing a pivotal role in robust development particularly in the Klang Valley.

Among the property projects near finalisation are Pusat Bandar Damansara (Pavilion Damansara), and residential properties in Sungai Besi and Jalan Pudu.

S P Setia Bhd’s net profit rose by 22% year-on-year (y-o-y) to RM123.4 million.

We are wary of the local property and land sales moving forward due to the unfavourable sentiments surrounding Nusajaya and the general weaker outlook for the sector. The stock was removed from the MSCI Malaysia Index on May 13, 2015.

Year to date, WCT has secured a total of RM1.8 billion worth of projects which have surpassed our initial assumption of RM1 billion.

We attribute the improvements to the expansion in profit margins due to cost savings and higher-paced construction progress of certain projects