Axis Real Estate Investment Trust
(Aug 5, RM3.46)
Maintain buy with target price of RM3.60: Axis REIT’s net income for the second half ended June of financial year 2014 (2HFY14) was 48% of our FY14 estimate. Revenue was flat quarter-on-quarter (q-o-q) while net property income margin inched up by one percentage point q-o-q to 85% due to lower property expenses.

Gamuda Bhd
(Aug 5, RM4.84)

KUALA LUMPUR: Gamuda Bhd plans to acquire the entire stake in Salak Land Development Sdn Bhd for RM784.328 million cash as it hopes to gain ownership of the latter’s 619ha tract of land located right next to Expressway Lingkaran Tengah (Elite Highway).

KUALA LUMPUR: Bina Puri Holdings Bhd has secured a contract to build a hostel for Universiti Malaysia Sabah for RM115.42 million.

In an announcement to Bursa Malaysia yesterday, Bina Puri said its unit, Bina Puri Sdn Bhd, had accepted a letter of award from Arkitek TM on behalf of its employer, Likas Bay Precinct Sdn Bhd.

KUALA LUMPUR: Amcorp Properties Bhd posted a net profit of RM117.7 million for the first quarter ended June 30, a 57% jump from RM11.2 million registered in the previous corresponding period.

Revenue rose to RM40.7 million, from RM32.5 million previously.

The increase in net profit was contributed by the group’s Malaysia and London properties.

KUALA LUMPUR: Axis Real Estate Investment Trust Managers Bhd (Axis REIT) has proposed to acquire three properties for RM280.5 million cash from three separate parties — Great Avenue (M) Sdn Bhd, Exceptional Landmark Sdn Bhd and Able Heights (M) Sdn Bhd.

KUALA LUMPUR: Just days after securing a multimillion ringgit contract, Econpile Holdings Bhd announced yesterday that it had secured a RM64.5 million contract to undertake earthworks for a substructure of a serviced apartment project in Jalan Robson, off Jalan Syed Putra here.

KUALA LUMPUR: UDA Holdings Bhd is close to sealing a deal with Tradewinds Corp Bhd to develop part of the latter’s 2,000-acre (4,942.11ha) land bank in prime locations in Peninsular Malaysia.

This would pave the way for a relisting of UDA Holdings, said its chairman Datuk Johari Abdul Ghani.

MELAKA: The Melaka government’s plan to acquire the prime tract where five historical schools are located in the city centre for redevelopment has hit a snag.