News by AllianceDBS Research

MRCB-Quill Real Estate Investment Trust’s (REIT) net distributable income for the first quarter of financial year 2017 (1QFY17) of RM23.2 million (+52% year-on-year [y-o-y]) was in line with our/consensus expectations.

IGB REIT’s Mid Valley Megamall (MVM) and The Gardens mall (TG) are in prime locations, which have underpinned near-full occupancies and resilient shopper footfall.

Yong Tai Bhd has successfully transformed into a Melaka-centric township property developer via its integrated 138-acre (55.85ha) Impression City (RM7.7 billion gross development value), featuring the first-of-its-kind Impression Melaka — an iconic tourist landmark that showcases large-scale live cultural music performances.

Yong Tai Bhd has successfully transformed into a Melaka-centric township property developer via its integrated 138-acre (56.25ha) Impression City with a RM7.7 billion gross development value, featuring the first-of-its-kind Impression Melaka — an iconic tourist landmark that showcases large-scale live cultural music performances.

Its peak quality order book of RM8.7 billion incorporates the recent Bukit Bintang City Centre  development project win and can provide solid earnings visibility over the next two to three years.

After achieving a record profit in financial year 2016 (FY16), MKH is poised to deliver an even stronger performance in FY17, premised on the stellar performance from both its plantation and property divisions.

A relatively new property developer with only three years of history, Eco World Development has been able to sell properties at an unprecedented pace, reflecting property buyers’ confidence in the group’s strong brand name.

The weak sentiment towards Iskandar Malaysia’s properties had also severely affected UEM Sunrise’s property sales in Iskandar Puteri.

Sunway Construction Group Bhd (SunCon) is the largest listed pure play construction company in Malaysia. Given its strong track record with mass rapid transit (MRT), light rail transit (LRT) and bus rapid transit (BRT) jobs previously, we are of the view that SunCon is on a strong footing to bag several key infrastructure packages such as the LRT3 and BRT as well as other infrastructure-related and building projects.

SunREIT could benefit further from the continued expectations of further easing of monetary policy.