News by MIDF Research

Weakening sectoral growth will be further worsened by the increase of in-house premix cement and concrete plants by the construction companies, such as IJM Corp Bhd and Gamuda Bhd, in order to reduce costs and control the concrete’s mixture quality, and intense pricing, product rivalries and entrance of various dry mix products.

Hotel Equatorial Melaka is a five-star 22-storey international business hotel located in Bandar Hilir, Melaka. Sime Darby acquired the asset in 1998 and the hotel is now 17 years old.

UEM Sunrise Bhd has signed an agreement with Ascendas Hospitality Trust to sell the serviced apartment component of the La Trobe Street mixed-use development, Aurora Melbourne Central, for A$120 million (RM369 million).

Glomac 1HFY16’s sales of RM80 million accounted for 15% of our target of RM544 million and 13% of the original management’s target of RM600 million for FY16. The management has reduced its sales target to RM500 million due to the soft market and high rejection rate from the banks on mortgage loan applications.http://subscribe.theedgemalaysia.com/

 JCSB is the legal owner of 10 parcels of land measuring 608.63 acres (246.3ha) located in Serendah, Selangor.

The industrial building currently is being leased to Beyonics Technology (Senai) Sdn Bhd for manufacturing plastic precision components, mould and electronic manufacturing services.

This is premised on its solid track record as a concessionaire, and good construction, engineering and project management capabilities. 

The news is not entirely a surprise to us as we had reduced our FY15 sales estimate earlier in August to RM1.31 billion. However, the amount of reduction is higher than expected as management is now targeting only RM1 billion of sales.

Overall, the average distribution per unit (DPU) for six REIT stocks under our coverage grew by 4.7% y-o-y.

The objective is to solve the urban transport woes by connecting all forms of urban transport network in a coherent transit-commute grid. Hence, the planned Bus Rapid Transit (BRT) projects are slated to be rolled out expeditiously.