News by Kenanga Research

As of July 2016, Kimlun completed its maiden property project “The Hyve”, with a gross development value (GDV) of RM232 million with an unsold portion worth RM33 million.

This latest move is seen as a positive step in its efforts to eradicate stores, which are loss-making and a drag to earnings.

Year to date, its outstanding order book stands at RM2.5 billion, providing earnings visibility for the next 1.5 years.

As housing affordability issues continue to persist while political pressure ensues, the government may be hard-pressed to relax policies for first-home buyers.

Management maintains FY16 sales target of RM2.3 billion, driven by about RM2 billion worth of new launches and the rest by ongoing projects.

The increase in revenue was attributed to higher construction billing as a number of projects had already moved towards advanced billings stages.

By the end of FY16, we expect four full quarters of contribution from Beyonics i-Park Blocks A, B, C and D, and a full-quarter contribution from the warehouse facility in Pasir Gudang.

WCT has an external outstanding order book of RM4.1 billion, with an earnings visibility of two to three years.

The main component of the project is to extend an additional 345m in length to the breakwater constructed earlier and river protection works under the Pahang river estuary conservation (Phase 3) project.

MRCB will use part of the cash from the disposal of up to RM152 million to acquire an estimated 145 million shares in MQREIT, increasing its stake from 31.2% to 32.9% post MQREIT’s placement.