News by Kenanga Research

The scope of works comprises main building works for 32 units of three-storey terrace houses at  Eastern & Oriental Bhd’s (E&O) Bandar Tanjung Pinang (Phase 1) in Pulau Pinang slated for completion by Sept 21, 2018.

FY2017 CNP registered an impressive growth of 62% underpinned by a 31% improvement in revenue, driven by its property division, which saw a 72% improvement in development revenue.

Its CNP declined by 11% on the back of weaker manufacturing earnings before interest and tax (-30%) as margins slipped to 7% (from 10%) likely on commencement of new consumer product plants, as well as competitive pricing strategies to gain market share.

With a current warehousing capacity of 4.9 million sq ft operating near full utilisation, Tiong Nam Logistics Holdings Bhd is further reaffirming its expansion plan. 

We attended PPB Group Bhd’s fourth quarter of 2016 results briefing, which was well attended by around 50 people and came away maintaining our “neutral” short-term outlook for the group, though the engineering and property segments’ long-term outlook could improve.

This was largely due to weaker-than-expected industrial and logistics performance coupled with continued weakness in the local property business.

On Tuesday, Perumahan Rakyat 1Malaysia (PR1MA) announced that the Special PR1MA End-Financing Scheme for first-time house buyers announced in Budget 2017 will benefit at least 15,000 buyers.

All in, RDI increased by 5.1% after accounting for higher financing cost (+15.5%) to part finance the acquisition of Tropicana City Mall and Tropicana City Office Tower, and additional revolving credit facilities being drawn down for capital expenditure (capex).

Sunway Real Estate Investment Trust has acquired an industrial asset in Shah Alam for RM91.5 million from Champion Edge Sdn Bhd with a long-term lease of 18 years.

Protasco is a well-established player in the construction industry where its forte is in road maintenance works on top of several business divisions.