S P Setia posts strong set of results
As at end-October, S P Setia locked in new property sales of RM3.4 billion, meeting 86% of its 14-month sales target of RM4 billion for FY15, which was on track.
Pavilion REIT net profit forecasts raised on da:men
Pavilion REIT’s lower 3QFY15 y-o-y earnings were mainly attributed to higher quit rent and assessment expenses (3QFY15: RM2.7 million versus 3QFY14: RM200,000) and utility costs (+28.7% y-o-y). This has nudged down 3QFY15’s net profit margin by 3.1 percentage points to 59.0%, as compared with 3Q14.
Al-Salam REIT to benefit from JB-Singapore RTS
Al-Salam REIT has a good combination of young and stable assets such as QSR Properties and KFCH International College (under triple net and step-up long leases) anchoring the earnings base, while newly refurbished Komtar JBCC provides much room for rental to play catch-up.
