IJM Corp Bhd
(Sept 23, RM5.75)
Maintain buy at RM4.70 with a higher target price of RM7.20 (from RM6.60): We are switching our top pick to IJM from Gamuda. The timing of the award of the West Coast Expressway (WCE) will be sooner (around 1Q14) than the MRT Line 2 (2Q15).

KUALA LUMPUR: The construction of the Sungai Buloh — Kajang (SBK) line or Line 1 of the Klang Valley Mass Rapid Transit (KVMRT) project is progressing well in meeting its July 2017 deadline, according to its main contractor.

THE revival of the Plaza Rakyat project, which has been a real eyesore for the past 15 years, is a stark reminder of the skyrocketing property prices in Kuala Lumpur.The receiver and manager of the project, AdamPrimus Chartered Accountants, put what is touted as one of the last tracts of development land in the city on the market on May 20 and already, some of the big names in the property deve

LOCATED some 33.5km from the Kuala Lumpur city centre, Kota Kemuning in Shah Alam is a vibrant, self-contained township with mature residential areas. Finding sizeable land in the township to build something unique would have been difficult but the opportunity presented itself to BCB Bhd in 2011.

KUALA LUMPUR: Gamuda Bhd posted a lower net profit of RM71.4 million for the third quarter ended April 30 of 2013 financial year (3QFY13) against RM138 million in the previous corresponding quarter.

In a filing with Bursa Malaysia yesterday, the group said it achieved a higher revenue of RM905.6 million in the quarter under review, compared with RM705.9 million in 3QFY12.

KUALA LUMPUR: Gamuda Bhd is acquiring 14 parcels of land via open tender from TPPT Sdn Bhd for RM620 million. TPPT is a property developer established by Bank Negara Malaysia in 1990 to manage a special fund with the objective of providing affordable housing.

KUALA LUMPUR: The long abandoned multi-billion ringgit mixed development project, Plaza Rakyat in Pudu, is once again up for sale. The 6.2ha project is one of the scars left by the Asian financial crisis in 1997.

KUALA LUMPUR: Analysts from various research houses have turned bullish on Gamuda Bhd. This follows a recent meeting with group managing director and CEO  Datuk Lin Yun Ling and other members of management.