RHB Research initiates ‘buy’ call on AME REIT, with positive growth outlook
In a note on Thursday (April 13), the research house initiated a target price of RM1.
In a note on Thursday (April 13), the research house initiated a target price of RM1.
The company said with the appointment, Ong has been mandated to spearhead KIP REIT’s business strategies, operational plans and corporate exercises to strengthen KIP REIT’s position as a highly respected and professionally managed REIT.
The construction outfit said its wholly-owned unit Fajarbaru Builder Sdn Bhd had accepted the award from Penang Development Corp for Phase 4 of a 25-phase proposed mixed development.
Going forward, Hektar REIT executive director and chief executive officer Johari Shukri Jamil shared that there are 94 tenants covering 528,121 sq ft of space that is set to expire in 2024, followed by 58 tenants with 187,202 sq ft expiring in 2025.
The group recorded a net profit of RM782.
The equity participation by Low Gay Teck, who has held the position of managing director for the last 15 years, will ensure his continued services to the group in the foreseeable future, L&G said in a bourse filing.
The project also consists of three strata shop units on level 1, four levels of podium parking, three levels of lower ground parking facilities for residents, one unit of electrical substation and one guard house.
“This is a strong testament to its ability to adapt, and also speaks of the marketability of its products, especially those in Sendayan Developments (BSS),” said Tan.
A “sick” project is one that has been delayed by more than 30% compared to its scheduled progress, or one whose sales and purchase agreement (SPA) has lapsed, according to the National Housing Department.
The company said the issue price represents a discount of approximately 3.