“We prefer players involved in the value chain of data centre construction over operators, as they also benefit from a surge in investment by hyperscalers.
The quarterly net profit rose to RM496.
The planned development involved a five-storey hotel with a two-storey basement under the Moxy brand, a segment of Marriott’s millennial-focused brand.
Shares in YTL Corp have surged 31% in less than two months into the year.
Aside from YTL Power and MCement, YTL Corp has exposure to the hotels segment through YTL Hospitality REIT, where it holds a 55% direct and a 3.
In a note on Thursday, the research house maintained its "buy" call on the REIT following its acquisition, with a higher fair value (FV) of RM1.
YTL REIT boasts a total of 10 hotel properties in Malaysia, including hotel chains such as JW Marriott Hotel Kuala Lumpur, The Majestic Hotel Kuala Lumpur and The Ritz Carlton Hotel Kuala Lumpur.
The petitioner, YTL Cement Marketing Sdn Bhd, claimed that Bina Puri had failed to settle a demanded amount of RM1.
The townhouses, with built-ups of 1,559 sq ft, come with a three-bedroom layout and are priced from RM730,000.
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