The land, 14km from Kuala Lumpur City Centre, has a wide catchment from established neighbourhoods of Kepong, Taman Selayang Jaya and Batu Caves. The land is also within walking distance from the Kepong Metropolitan Park, and near public transportation — it is 3.3km from the upcoming Metro Prima mass rapid transit 2 station, and 4km from the Taman Wahyu KTM station.
Based on our industry checks, we have estimated that the total value of ECRL civil works to be between RM22 billion and RM26 billion, being 50-60% of total project cost of RM44 billion.
Cement players which have been served a notice under Section 21 of the Price Control and Anti-Profiteering Act 2011, have agreed to suspend the price hike.
We do not see much room for housing loan growth given the existing low interest rate environment, limited buyer’s affordability and possible interest rate hike.
CGSCIMB Research: Maintain reduce with a lower target price (TP) of RM2.12
CGSCIMB Research: Maintain hold with an unchanged target price of RM7.83
CGSCIMB Research: We maintain our “hold” recommendation and roll over our valuations to end-2019.
CGSCIMB Research: We foresee earnings risk from every outcome for MRT2 (AG and UG).
CGSCIMB Research: We make no revisions to our FY18 to FY20 earnings per share, and dividend discount model-based TP of RM1.49, based on cost of equity of 8% and TG of 1.5%.
The pending outcome of LRT3 cost rationalisation would affect WCT’s overall job scope value and profits, for example, cancelling and/or redesigning stations.
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