E&O launched The Conlay, with a gross development value (GDV) of RM968 million, in the fourth quarter of 2019 (4Q19).
MRCB has the expertise in providing chilled water supply since 2013. KDDCS was formerly set up under the group for the proposed provision of chilled water supply. The supply agreement signed with KUSB requires the delivery of chilled water beginning Sept 1, 2020.
While unsold completed properties remain escalated in 1Q19, we think that the property inventory may have a chance to ease going forward, banking on the house ownership campaign (HOC) programme.
We believe that Tiong Nam would face tough competition given the expectation of a stagnant property market in Johor. This is due to the fact that other property developers will also have to clear their unsold properties.
The MoU may enable EcoWorld to take advantage of and leverage on the connectivity available and creating new business opportunities under China’s Belt and Road Initiative (BRI).
One parcel covering over 25ha has a cold supply chain facility while another three have existing factories and a warehouse.
Local projects contributed 94% of the total new sales while international projects contributed the remaining percentage of the total sales.
We expect the upcoming quarter core net income to be on par with the set of numbers in the previously corresponding period. We expect this to be supported by positive rental income growth from Sunway Pyramid.
While details are still scarce, we believe opportunities are ample given the latest GDV estimate of RM140 billion.