No clear expansion plans seen for Mitrajaya’s rights issue
For its property arm, unbilled sales stood at RM233 million (mostly from Wangsa 9 residency and Puchong Prima affordable homes).
Rights issue to put MRCB on a better financial footing
The issue price of 79 sen represents a 20.2% discount to its theoretical ex-all price of 99 sen.
Kerjaya could undertake a one-for-one bonus issue
Kerjaya’s outstanding order book stands at RM3.15 billion, giving it a visibility of about 2.5 years.
Kimlun Corp’s earnings outlook remains stable
Current outstanding construction order book stands at about RM2.1 billion providing visibility for the next two years.
SunCon on track to meet its order book targets
Kenanga Research maintains underperform on SunCon.
SunCon order book seen on track
We believe SunCon is on track to meet the order book replenishment target of RM2 billion, as it has already secured RM600 million worth of jobs year-to-date.
Magna Prima may see softer earnings in third quarter
Longer-term earnings should be supported by its Shah Alam and Kepong projects.
Kerjaya Prospek could expect replenishment risk
Currently, Kerjaya Prospek’s outstanding order book stands at RM2.6 billion, giving it a visibility of around 2.5 years.
Pavilion REIT 1HFY17 below expectations
Year-on-year, gross rental income was up by 6% on the acquisition of Damen Mall and Intermark Mall (in March 2016), and positive rental growth from other assets on mid-single-digit reversions.
Little impact expected from Sunsuria JV
On outlook, Sunsuria has launched Olive at Sunsuria City (GDV: RM284 million) and Bell Suites (GDV: RM147 million) in financial year 2017…
