We believe that Magna Prima Bhd’s (84 sen) earnings will continue to improve over the next few years, underpinned by the company’s roster of new property developments.
The company’s earnings results for 4QFY11 and full-year FY11 registered improvement over the previous year, albeit at a slower than expected pace.

KUALA LUMPUR (Mar 14): MMC-Gamuda Joint Venture Sdn Bhd is in the front seat after being prequalified for the technical stage of the RM8 billion Sungai Buloh-Kajang Mass Rapid Transit (MRT) line tunnelling works.

HwangDBS Vickers Research said MMC-Gamuda has valuable experience and a competitive cost structure.

KUALA LUMPUR (Mar 14): IJM Corp Bhd is buying a 20% equity interest in West Coast Expressway Sdn Bhd (WCE) for RM6.75 million.

In an announcement to Bursa Malaysia, IJM said its wholly-owned subsidiary Road Builder (M) Holdings Bhd has entered into a share sale and purchase agreement with Prominent Xtreme Sdn Bhd for the 20% in WCE, consisting of 5.8 million RM1 shares.

KUALA LUMPUR (Mar 13): Golden Palm Growers Bhd, a subsidiary of Australian Stock Exchange-listed Sterling Biofuels International Ltd, is confident of selling all the plots under its golden palm growers (GPG) scheme by the end of 2013, according to group executive chairman Andrew Phang.

KUALA LUMPUR (Mar 13): Kimlun Corp Bhd has bagged two contracts worth RM151.6 million for real estate deals in Johor Bahru, which are expected to boost earnings until February 2014.

KUALA LUMPUR (Mar 13): Paramount Corp Bhd has acquired a 30-acre (12ha) freehold industrial tract in Selangor for RM125 million to develop semi-detached factories.

KUALA LUMPUR/LONDON (Mar 13): A £300 million (RM1.42 billion) residential block called Ambassador Building situated along the river Thames will be launched in Malaysia in May, it was revealed in a press conference on Tuesday.

LONDON (Mar 13): Due to weaker conditions in the central London employment market, rents have turned negative amid a 0.4% drop on a three-monthly basis, said Knight Frank.

In February 2012, prime London residential rents fell 0.2% nearing low levels posted in June 2011 as the current round of rental price falls relates to a weak employment market.

SHANGHAI (Mar 12): China shares ended 0.2% lower on Monday, led by property developers, after the head of the Chinese central bank said that the government was not using bank reserve requirement ratio (RRR) cuts to help the stock market and the property sector.

DAMANSARA (Mar 12): Sunsuria Development Sdn Bhd has launched the first phase of its Suria Jelutong mixed development in Bukit Jelutong, Shah Alam.