Long road ahead for MRCB with Ipoh Sentral project, analysts say
The transit-oriented development project will add 19% to MRCB’s total remaining gross development value (GDV), for it to reach RM38.
The transit-oriented development project will add 19% to MRCB’s total remaining gross development value (GDV), for it to reach RM38.
In a note on Thursday, CIMB Securities said that the company's earnings are expected to grow 2.
Revenue increased 5.
The development will include affordable housing, hotel, commercial, green spaces, and educational institutions.
Net property income for 3QFY2024 was RM37.
In March, the state local government, housing, health and environment committee chairman Hilmi Abdullah was quoted as saying that KB Sentral is expected to be completed by 2027, with the state government having inked an agreement with a company to undertake the project.
The station was opened in 2001 with a capacity of 100,000 passengers per day after development costing over RM1 billion, but now handles some 200,000 passengers daily.
Calls on the REIT’s units remained mixed following the latest quarterly results, although analysts flagged its appealing distribution yield as compared to the sector average.
RHB Bank also kept its "buy" call, with a dividend discount model (DDM)-derived target price of 91 sen.
Finance costs rose 44.