News by Lee Ming Hui

RHB IB has raised Sentral REIT’s earning forecast for 2024–2025 (FY2024F–2025F) by 11% after incorporating contributions from the Menara CelcomDigi acquisition.

The research house maintained its “buy” call on Sime Darby Property and raised its target price by 29.63% to RM1.05, based on a 50% discount to the estimated revised net asset value of RM2.10. 

RHB Research said IJM Corp Bhd has secured RM2.9 billion worth of jobs year-to-date for the financial year ended March 31, 2024 (FY2024), compared with its job replenishment assumption of RM4 billion for the period, after its joint venture (JV) company secured a RM176 million job for the automated people mover (APM), or aerotrain, project at the Kuala Lumpur International Airport (KLIA).

MARC Ratings has downgraded its rating on YNH Property Bhd's Islamic Medium-Term Notes Programme (Sukuk Wakalah) to BBBIS from AIS and concurrently placed the rating on MARCWatch Negative.

The latest RM111.8 million property construction job win by Kerjaya Prospek Group Bhd from sister company Kerjaya Prospek Property Bhd (KPPROP) is within its anticipated contract replenishment of RM1.5 billion to RM1.6 billion this year, analysts said.

Leader Steel Holdings Bhd’s shares opened 11.5% higher on Thursdays morning, following news that it had accepted a notice of award and offer for compensation from the Klang Land Office, invoking a compulsory acquisition for a RM42.56 million piece of land in Klang, Selangor.

Bintai Kinden Corp Bhd has secured an agreement to settle RM3 million of debt with MBSB Bank Bhd, which will see the bank withdraw a legal suit arising from Bintai Kinden’s default in March this year.

ECM Libra Group Bhd is adding to its hospitality assets by acquiring two leasehold properties in the city centre of Liverpool, UK — the Tune Hotel and a ground floor shop with basement — for £4.5 million or about RM26.48 million.

Land & General Bhd (L&G) has appointed a new director to its board while redesignating one of its directors to a senior director.

RHB Investment Bank Research (RHB IB) has maintained its "buy" rating on Kerjaya Prospek Group Bhd at RM1.49 with a new target price (TP) of RM1.71 (from RM1.78) and said the company is in a sweet spot to secure more jobs in the coming months.