News by RHB Research

Sunway REIT’s core FY16 net profit was in line with expectations at 99% and 100% of our and consensus estimates respectively.

As the full implications of the UK’s exit from the European Union will take time to unfold, we believe the associated political and economic uncertainties, coupled with the resulting impact on the British pound would make UK assets, including commercial properties, unattractive over the medium term.

As for the education segment, total student numbers in 1Q16 declined slightly by 1.5% from end-2015 to 8,130.

S P Setia Bhd has announced its acquisition of a 1.02-acre (0.414ha) piece of freehold land for a purchase consideration of A$101 million (RM302 million). The land was secured via a competitive bidding exercise from Telstra Corp Ltd, Australia’s leading telecommunications company. The land cost makes up 16% of the project’s gross development value (GDV) of A$640 million, which seems higher compared with S P Setia’s previous transactions of Parque Melbourne in St Kilda Road and Fulton Lane in 2010 and 2011 at around 10% of GDV.

Impression Melaka is a live cinematography show that utilises the latest light and sound technologies, modern art concepts and cultural performers.

Management has been prudent in its landbanking exercise and the company has accumulated a solid war chest, which would come in handy once opportunities arise.

Yi-Lai, which is largely off the radar of many investors, would see an exciting transformation ahead.

Despite the challenging property market environment, Paramount’s pipeline launches are carefully chosen to ensure more sustainable sales.

New sales reached RM70 million in 4Q against RM22 million in 3Q when Tambun Indah was still awaiting the APDL. Its full-year sales amounted to RM263.41 million, down from RM429.11 million in 2014, given the slow approval process.

Sales of the Battersea project may remain slow, given the upcoming supply in the Nine Elms area and the stamp duty hike in the UK last year.