It looks like a win-win deal but read the fine print to avoid future problems.

Up until recently, the landscape in Bandar Kinrara was fairly homogenous, consisting primarily of low-cost apartments and flats, but this is changing.

The scope of works, such as earthworks, sewerage reticulation and sewerage treatment plant is for site preparation for the development of Kwasa Damansara township in Sungai Buloh, Selangor, which will span over 52 weeks and is expected to be completed by October 2017.

IJM Corp Bhd (Sept 21, RM3.35)

While 75% of UEM Sunrise’s landbank is located in Nusajaya, the management is looking to diversify beyond Nusajaya. One of the options would be land swap arrangements to leverage on its large land bank in Nusajaya, which we have not priced in at this point.

Quill, whose business ranges from property development to automobiles and retail to healthcare, recently put in a proposal to develop a parcel at the corner of Jalan Utara and Jalan 51A/223 that is currently being used as a parking lot.

Bandar Kinrara once comprised primarily of low-to-medium cost terrace houses and flats, but newer developments are increasingly upmarket. 

10MFY15 sales were at RM2.37 billion which are within expectations, accounting for 79% of both our and management’s FY15 target of RM3 billion. Major drivers are from Klang Valley projects, consisting 57% of sales such as Eco Majestic and Eco Sanctuary.

Glomac’s 1QFY15 CNI grew 1% year-on-year (y-o-y) to RM21.1 million. Despite the flattish growth in 1QFY16, we anticipate stronger earnings growth in subsequent quarters due to a high contribution expected from Saujana KLIA, which still has unbilled sales of RM240 million.

The Penang Transport Master Plan, which would be managed by the Gamuda Bhd-led consortium, should improve infrastructure and enhance the value of Penang property in the long run. The listing of E&O plc would likely reduce the group’s gearing.