The compression in its bottom line was largely due to the fallow period of project awards. In contrast, property division’s revenue bucked the trend by growing from RM359.3 million in 6MFY2016 to RM515 million in 6MFY2017 (43.3% y-o-y) driven by sales pickup from Gamuda and Celadon City in Ho Chi Minh City.
The strong revenue growth is due to ongoing recognition of projects in the Klang Valley (Eco Majestic, Eco Sanctuary and Eco Sky), Iskandar Malaysia (Eco Botanic, Eco Spring, Eco Summer, Eco Business Park 1, Eco Tropics and Eco Business Park III) and Penang (Eco Meadows and Eco Terraces).
AQRS potentially stands to benefit from future development in Kota SAS, especially transit-oriented development projects.
Net property income of the retail division climbed 10.9% y-o-y to RM142.3 million as Sunway Pyramid Shopping Mall, Sunway Carnival and Sunway Putra Mall contributed higher rental income.
Kuala Lumpur Kepong Bhd (KLK) is expected to release its first quarter financial year 2017 (1QFY17) financial results tomorrow. We are expecting its core net income to be in the range of RM320 million to RM350 million.
IHH Healthcare Bhd via its wholly-owned subsidiary Pantai Medical Centre Sdn Bhd (PMCSB) entered into a sales and purchase agreement (SPA) with YNH Hospitality Sdn Bhd (YNHSB) and Kar Sin Sdn Bhd (KSB), a wholly-owned subsidiary of YNH Property Bhd, last Thursday.
IGB REIT reported stronger sequential earnings in 4QFY2016 which grew 2% quarter-on-quarter to RM70.3 million.
Malaysia Building Society Bhd’s share price may consolidate after a strong price action.
The House Price Index (HPI) grew by 5.3% year-on-year (y-o-y) to 235.4 in the second quarter of calendar year 2016 (2Q16), which is significantly lower than the five-year average growth of 9.3%.
Sunway Velocity Mall has net lettable area of 880,000 sq ft, while the secured occupancy rate stood at 90%.
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