IOI Properties posts lower 1Q profit on absence of fair value gain, weaker property development earnings
Quarterly revenue slipped 6.
Quarterly revenue slipped 6.
The purchase price of S$538 million (RM1.
In a note on Thursday, the research house said IOI Properties had in recent years embarked on vastly expanding its property investments and hotel assets.
With a total net lettable area of 98,000 sq ft, Sierra Fresco is fully managed by IOI Properties and hosts brands such as Village Grocer, The Coffee Bean & Tea Leaf, CU Mart, Anytime Fitness, Subway and A&W.
For FY2023, IOI Properties said its property development segment achieved sales with contracts exchanged of RM1.
Kenanga said it favours EcoWorld because of its strong branding and mature townships, while IOI Properties is a top pick because of the hidden value of its prime investment properties in the Klang Valley, Singapore and China that could potentially be developed through a real estate investment trust.
Lim is a chartered accountant with over 40 years of experience in risk management, banking and accounting.
Yeow Seng, who is currently the group's executive vice-chairman, replaces Datuk Voon Tin Yow, who will be retiring.
IOI Properties said the property development segment achieved sales with contracts exchanged at RM1.
The stamp duty, announced by Singapore's Ministry of National Development, is a property cooling measure to dampen investment demand and prioritise housing for locals meant for owner-occupation.