MIDF Research has downgraded AEON Co (M) Bhd to "neutral", with a lower target price of RM1.14 (previously RM1.40), based on an unchanged price-earnings ratio of 13.9 times, pegged at a lower earnings per share of 8.2 sen forecast for the financial year ending Dec 31, 2024 (FY2024).
Phillip Capital has maintained its "buy" rating on Lagenda Properties Bhd at RM1.20, with a lower revalued net asset value-derived target price of RM1.51 (from RM1.55 previously).
Kerjaya Prospek said it has not commenced any contract work to-date.
The builder declared an interim dividend of two sen, with an ex-date on Dec 14 this year.
The outlook for the property sector in Malaysia is expected to remain positive, according to MIDF Research, based on the current healthy loan applications, higher approved loans, and potential new infrastructure projects.
Ipsos Malaysia is calling for a review of the 30% housing expense-to-income rule in assessing housing affordability, saying the current rule that deems a home unaffordable if households spend more than 30% of their income on it, is both “outdated and arbitrary”, which leads to suboptimal policies.
While Bank Negara Malaysia's (BNM) decision to keep the overnight policy rate (OPR) unchanged at 3% in its final monetary policy committee meeting for the year was well expected by economists following Malaysia's positive economic growth, they, however, appear divided on the central bank's stance going forward.
“We maintain our overweight stance on both the property and MREITs sector.”
The construction engineering solutions and services provider is set to have a market capitalisation of RM212.1 million upon listing, with an enlarged share capital of 606 million shares.
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