Glomac’s 1QFY15 CNI grew 1% year-on-year (y-o-y) to RM21.1 million. Despite the flattish growth in 1QFY16, we anticipate stronger earnings growth in subsequent quarters due to a high contribution expected from Saujana KLIA, which still has unbilled sales of RM240 million.
The 26 sen special dividend announced is higher than the indicative amount of between 22 sen and 25 sen mentioned in a circular to shareholders for the Suncon IPO.
Maintain buy with an unchanged target price (TP) of RM3.60.
We gather that UEMS plans to convert the building into ultra-luxurious residential, potentially with a mix of ground-floor retail and serviced apartment components. Rationale for the purchase is to ensure a steady flow of overseas projects. The property is in a different location from the two core CBD sites currently owned by UEMS.
We expect SCGB to clinch contracts of the upcoming major infrastructure projects, such as Mass Rapid Transit Line 2, Light Rail Transit 3 and Bus Rapid Transit, given its successful track record
UEM Sunrise Bhd has announced that it is selling Imperia Building to UEM Group Bhd for RM137.8 million (inclusive of the RM7.8 million goods and services tax (GST).
We understand that Axis Business Campus (ABC) is still vacant although the refurbishment has been completed
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