Gamuda's core profit may have risen up to 12% in 3Q — RHB
Gamuda's core net profit could come in between RM230 million and RM250 million for the third quarter ended March 31, 2024 (3QFY2024), the research house said in an earnings preview note.
Gamuda's core net profit could come in between RM230 million and RM250 million for the third quarter ended March 31, 2024 (3QFY2024), the research house said in an earnings preview note.
The research house said Gamuda’s FY2024 year-to-date win is circa RM9 billion and it expects to secure another estimated RM14 billion by end-CY2024, bringing forward its RM25 billion target for FY2024-2025E by half a year.
The offices will be fully refurbished to provide energy-efficient, grade A+ accommodation targeting BREEAM Outstanding, WELL Core “Platinum”, and NABERS UK 5 Star Design for Performance certifications.
Shares of Inta Bina have surged over 80% so far this year amid broader rally in the construction sector fuelled by optimism of major infrastructure projects rollout by the government and private contracts to build everything from homes to data centres.
The group said the contract period is for 23 months, and is divided into two phases, with the first phase comprising 124 units of houses and the second phase consisting of 50 units.
Gamuda’s established regional presence, track record, and the current growth in DC investment position the group well for further opportunities, according to Hong Leong Investment Bank (HLIB) Research.
The project is set to commence next Monday (May 27) and is scheduled for completion on Feb 27, 2026.
In a note on Monday, the research house said that based on its assessment, Ho Chi Minh City is set to grow and be a major driver of Gamuda Land’s growth in Vietnam while maintaining the country’s contribution of at least 25% to 30% of group revenue in the coming years.
The new tenants of the mall include Q-dees, Kiddypedia, Inside Scoop, Ollie & Hana, Jungle Gym, Mini Studio, Cross Kitchen, and Red Spice.
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