Challenging 1Q for Hua Yang
Its lower-than-expected sales were due to the poor response from its Klang Valley project — Astetica Residences.
EcoWorld confident sales targets will be met
Eco World Development Group Bhd’s first half financial year 2017 (1HFY17) core net profit of RM55.1 million was within Kenanga Research's expectations but below market expectations.
Magna Prima FY18 earnings expected to rise
Magna Prima Bhd is a niche high-end property developer with pure exposure in the Klang Valley with a total land size of 29.6 acres (11.98ha).
Kimlun’s 1QFY17 profit dips on slower billings from construction, manufacturing
Kimlun Corp Bhd’s first quarter of financial year 2017 (1QFY17) core net profit (CNP) of RM14.2 million is within our and consensus expectations at 20%. We derive our CNP after reversing out unrealised foreign exchange gains of around RM1.2 million. No dividends were declared, as expected.
Mitrajaya 1QFY17 broadly within expectations
Mitrajaya Holdings Bhd first financial quarter ended March 31, 2017 is broadly inline. We deem 1QFY17 core net profit (CNP) of RM18.9 million to be broadly within our (19%) and consensus expectations (18%) as we note that the first quarter is typically a seasonally slower quarter for Mitrajaya and we expect construction billings to pick up in the remaining part of the year.
UOA Development’s Bangsar South expansion a promising move
UOA Development Bhd has proposed to acquire 2.39 acres (0.97ha) of freehold commercial land in the Bangsar South area for RM81.1 million (RM778 per sq ft) from Suileem Realty Sdn Bhd.
Eversendai’s new contracts within expectations
On Tuesday, Eversendai Corp Bhd announced that it had secured new contracts of over RM557.6 million since April, bringing year-to-date (YTD) contracts won to RM1.3 billion.
Kerjaya’s new contract gives earnings visibility
Kerjaya Prospek Group Bhd announced that they had secured a project known as “Hometree — Phase 2” worth RM207.4 million from BCB Bhd.
S P Setia’s third Singapore foray
S P Setia successfully tendered for 4.6 acres (1.86ha) of leasehold land along Toh Tuck Road, Singapore for S$265 million (RM847.6 million) from the Urban Redevelopment Authority. The acquisition is expected to be completed by the third quarter of 2017.
Mitrajaya secures RM273.8m building job from STF Resources
Last Friday, Mitrajaya Holdings Bhd announced that they have secured a RM273.8 million building job known as “A Centre of Excellence” from STF Resources Sdn Bhd. The building job is located at Lot 44, Jalan Dato’ Onn, Mukim Bandar Kuala Lumpur, Seksyen 51, Wilayah Persekutuan Kuala Lumpur and is slated for completion by April 2019 (24 months from now).
