1HFY18 net profit grew by a third year-on-year (y-o-y) thanks largely to stronger construction profit as the three key projects started to contribute more significantly, coupled with a slight improvement in property profit.
We expect either weaker sales of inventories or the possibility of more discounts to be given out in 2HFY18, which may result in a lower bottom line due to a challenging property market.
The company has outstanding tenders in excess of RM4 billion, comprising mainly external building jobs.
“Proper infrastructure upgrades and planning will increase overall happiness of the local people with the issue being raised frequently."
It was reported on Monday, that the Perak government is not allowed to grant permanent (freehold) ownership status to new villages.
The HDA stipulates that a sum of money retained for developers to perform repairs during the two-year defect liability period which is equivalent to 5% of the selling price be held by law firms.
No one was injured, as all residents were able to save themselves from any danger.
“Why would Prasarana spend millions to expand the terminal when the service is running at a loss and the RM90 million allocation is merely to sustain the existing operation?” said a former state executive councillor.
Segmental operating indicators were generally positive in 1H18, on the back of a 100% occupancy rate for offices, lower single-digit growth in retail rental reversion, and new parking and maintenance contracts in 1H18.
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