News about l

Construction sector Downgrade to neutral: The surprise election outcome with Pakatan Harapan (PH) winning the election led to a knee-jerk selldown in construction stocks.

S P Setia Bhd (May 15, RM3) Maintain outperform with a target price (TP) of RM4.

Gabungan AQRS Bhd (May 15, 88 sen) Maintain buy with a target price (TP) of RM2.

PETALING JAYA (May 15): Election pledges made by the new Pakatan Harapan (Pakatan) government regarding affordable housing and the property market at large may hurt the industry as the new government seeks to further control the market which could potentially prevent its self-correction, said Institute for Democracy and Economic Affairs (Ideas) senior fellow Dr Carmelo Ferlito.

KUALA LUMPUR (May 15): Maybank Islamic Bhd’s HouzKEY, Malaysia’s first bank-initiated rent-to-own (RTO) scheme, will launch its second phase which will see the scheme being expanded to cover properties on the secondary market.

PETALING JAYA (May 15): Matrix Concepts Holdings Bhd today signed a Memorandum of Understanding (MoU) to jointly undertake the development of an Islamic financial district in Pantai Indah Kapuk 2 (PIK 2) Sedayu Indo City, Jakarta, Indonesia.

KUALA LUMPUR (May 14): Enra Group Bhd has disposed of its 70% stake in property development firm Landmark Zone Sdn Bhd (LZSB) for RM5.

KUALA LUMPUR(May 15): Sarawak state infrastructure facilitator Cahya Mata Sarawak Bhd (CMSB) saw its net profit for the first quarter ended March 31, 2018 (1QFY18) surge 50.

KUALA LUMPUR (May 15): New York is known for its high rents, but a recent report revealed that a tenant in Manhattan (pictured) was actually paying US$28.

TL Corp Bhd (May 14, RM1.