Analysts remain upbeat on Gamuda Bhd (KL:GAMUDA), which recently reported stronger quarterly earnings, given its extensive overseas exposure and substantial order book.

Berjaya Tagar Sdn Bhd, a subsidiary of Berjaya Land Bhd (KL:BJLAND), officially launched an affordable residential project on Wednesday under Berjaya Flagship Affordable Homes (BFAH) called Pangsapuri Azalea in Subang Heights, Subang Jaya, Selangor.

Putrajaya’s policies have the potential to create a positive environment for the local property market but they will depend on how effectively they are implemented.

Shares of IOI Properties Group Bhd extended its decline to their lowest in seven weeks amid concerns of rising debt after the developer announced its chief executive has proposed the joint development of Shenton House in Singapore.

Noteworthy:

• Freehold
• Built-up size: 6,000 sq ft
• Land size: 16,892 sq ft
• 6 bedrooms, 8 bathrooms
• Semi-furnished
• Nearby amenities: MRT Semantan, MRT Pusat Bandar Damansara, Pavilion Damansara Heights, The Five @ KPD, Plaza Damansara, HELP University, National Science Museum, KLGCC
• Accessibility: SPRINT-Damansara Link and Kerinchi Link, Jalan Tuanku Abdul Halim, Jalan Semantan, LDP, Jalan Damanlela

When: May 2024

Gamuda Bhd’s (KL:GAMUDA) net profit rose 5.56% to RM235.8 million for the third quarter ended April 30, 2024 (3QFY2024), from RM223.37 million in the previous year’s corresponding quarter, as it registered higher contribution from overseas projects.

IOI Properties Group Bhd (KL:IOIPG) has received a proposal from its group chief executive officer cum major shareholder Lee Yeow Seng to participate in the development of Shenton House, a commercial property located in Singapore that his private vehicle has successfully tendered for, for S$538 million (RM1.9 billion).

Alliance Islamic Bank Bhd and AmInvestment Bank Bhd are the joint principal advisers, joint lead arrangers and joint lead managers for the sukuk programme.

Several stages need to be completed before a final decision can be made, Alexander said. 

The new division will be headed by Haroon Anwar, who brings over 30 years of experience in international finance, investments, banking and leadership roles.