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Retail REITs will continue to outperform office REITs, says HLIB Research

KUALA LUMPUR (Jan 23): Hong Leong IB Research has maintained its “Neutral” rating on the real estate investment trust (REIT) sector and said retail REITs will continue to outperform over office REITs given its pricing power and potentially higher rental income from positive rental revision.

23 January, 2015
Guocoland’s 2Q earnings fall 75% to RM3m

KUALA LUMPUR (Jan 22): Guocoland (M) Bhd saw its net profit for the second quarter ended Dec 31, 2014 (2QFY15) fallen 75.4% to RM3.02 million or 0.45 sen a share; while revenue fell to RM55.3 million, from RM59.1 million previously.

22 January, 2015
Kimlun bags RM230.7 mil housing contract

KUALA LUMPUR (Jan 22): Kimlun Corporation Bhd has secured a housing development contract worth RM230.7 million from Nusajaya Heights Sdn Bhd, a subsidiary of UEM Sunrise Bhd.

22 January, 2015
Bursa issues UMA query to Scanwolf

KUALA LUMPUR (Jan 22): Scanwolf Corp Bhd has been issued an unusual market activity (UMA) query after a series of higher closes for the stock over the past three weeks, and a 75.44% jump from its lowest point this month of 57 sen.

22 January, 2015
UDA rakes in RM142 mil sales from property carnival

KUALA LUMPUR (Jan 22): UDA Holdings Bhd has raked in RM142 million sales of 201 property units from its recently-concluded U4RIA Property Carnival, held in December 2014.

In a press statement today, UDA’s group managing director Ahmad Abu Bakar said demand for local properties was still encouraging and that the market was still on an upward trend.

22 January, 2015
Ringgit depreciation 'silver lining' for property industry - IJM Land chief

KUALA LUMPUR (Jan 22): The depreciating ringgit is deemed a "silver lining" for the Malaysian property industry, as local real estate would be priced more competitively against world markets, according to IJM Land Bhd CEO Datuk Soam Heng Choon.

Soam said a weaker ringgit would not affect developers' costs, as long as they did not use imported goods.

22 January, 2015
Hua Yang gains 5% after posting strong 3Q15 results

KUALA LUMPUR (January 22): Hua Yang Bhd gained as much as 5% during the morning trading session, after the company posted strong results for its third quarter ended Dec 31, 2014 (3Q15).

At 11am, Hua Yang (fundamental: 1.7; valuation: 2.4) rose 8 sen or 4% to RM2.23, with 469,500 shares exchanging hands. The counter earlier gained 10 sen or 5% to reach a high of RM2.25.

22 January, 2015
4.24% of LBI Capital shares trade off market for RM3.6 mil

KUALA LUMPUR (Jan 21): LBI Capital Bhd saw 3.1 million of its shares, representing a 4.24% stake in the company, traded off market today at a total value of RM3.596 million.

According to Bloomberg data, the shares were moved in one block of 3.1 million shares at RM1.16 per share.   

21 January, 2015
2% of DutaLand shares crossed off-market for RM8.6 mil

KUALA LUMPUR (Jan 21): DutaLand Bhd (fundamental: 1.25; valuation: 0.9) saw 16.86 million of its shares, representing a 2% stake in the company, traded off-market today for RM8.6 million.

According to Bloomberg data, the shares were moved in a single transaction and was priced at 51 sen apiece.

21 January, 2015