KUALA LUMPUR (Sept 21): After holding back some of its project launches for about a year, Glomac Bhd is now targeting to launch properties worth some RM1 billion in total gross development value (GDV) before its current financial year end April 30, 2017 (FY2017).
Glomac Bhd (Sept 13, 76 sen) Maintain hold with a higher target price (TP) of 82 sen: Glomac Bhd’s upcoming first quarter ended July 31, 2016 (1QFY17) results could come in below expectations, with weaker core net profit quarter-on-quarter (q-o-q) and year-on-year (y-o-y).
PETALING JAYA: PPC Glomac Sdn Bhd (PPC Glomac), a joint venture between Pembinaan Punca Cergas Sdn Bhd and Glomac Bhd, plans to launch a mixed development with an estimated gross development value (GDV) of RM300 million in Rawang this year.
Glomac Bhd (June 20, 78 sen) Maintain hold with an unchanged target price (TP) of 76 sen: Glomac Bhd’s financial year ended April 30, 2016 (FY16) year-on-year (y-o-y) core net profit growth of 28% came in as per our expectations but below consensus.
KUALA LUMPUR (June 16): Property developer Glomac Bhd, whose latest quarterly profit has fallen 26% according to its bourse filing yesterday, is planning RM1.
Rented for: RM1,800 Concluded by: Edmund Chin of Propstar Realty (012-339 1260) When: March 2016 Noteworthy: • Leasehold • Intermediate office unit on the first floor with washroom • Built-up area: 1,637 sq ft • Near institutes of higher education such as KDU, KBU and SEGi College; within 15 to 30 minutes’ drive to shopping malls such as 1 Utama, The Curve, IKEA and Atria Shopping Gallery • Surrounded by mature townships such as Bandar Utama, Damansara Utama and Damansara Jaya Glomac Centro is a mixed development comprising 2-storey shop offices and a block of 29-storey serviced apartments in Kayu Ara, Petaling Jaya.
KUALA LUMPUR (March 24): Property developer Glomac Bhd said it plans to roll out RM627 million new launches in the second half of the financial year ending April 30, 2016 (2HFY16), where four out of the five planned projects are in the affordable landed residential segment.
Property sector Maintain neutral: According to news reports, the Selangor state government will freeze the approval for all applications of new property projects involving serviced apartment, small office home office (Soho), and small office versatile office (Sovo) submitted after Jan 1, 2016.
Glomac Bhd (Dec 3, 91 sen) Maintain buy with an unchanged target price (TP) of RM1.
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