News by M

Hong Kong’s residential prices have gone up 75.9% compared to the market peak in 1997.

Justice Azizah Nawawi also granted a temporary stay on the planned project until the court delivers a decision after hearing the application on full merits.

Hong Leong IB Research has initiated coverage on Protasco Bhd with a “Buy” rating and target price of RM1.20 and said strong cash flow generation from 2 concessions and 4 long term contracts for road maintenance.

CIMB IB Research has initiated coverage on Selangor Properties Bhd (SelProp) at RM4.90 with a “Hold” rating and target price of RM5.12 and said SelProp owns 42 acres of prime land in Damansara Heights and Bukit Tunku, two of the most prized locations in Kuala Lumpur.

AllianceDBS Research said Crest Builder Holdings Bhd (Cresbld) had on June 8 gapped up to reach a high of RM1.12 before closing near the day’s high at RM1.10 (up 10 sen or 10.0%).

Group hopes to do this through the unlocking of Lai Meng land.

Malaysia Land Properties Sdn Bhd (Mayland) has launched the first phase of Dorsett Residences Sri Hartamas.

Hua Yang Bhd aims to realise the potential of its 30.95% acquisition of Magna Prima Bhd at a total of RM190.3 million by unlocking the latter's value in the former Lai Meng School land on Jalan Ampang in the next two financial years ending March 31, 2020.

The RM3.74 billion Setiawangsa-Pantai Expressway (SPE) is 13% complete and 3% ahead of schedule, Ekovest Bhd managing director Datuk Seri Lim Keng Cheng said in a Bernama report yesterday.

Ibraco Bhd shares rose 2.38% in thin trade this morning after Hong Leong IB Research initiated coverage on Ibraco with a “Buy” rating and target price of 97 sen (upside of 15.5%) based on 35% discount on RNAV of RM1.49.