The stock price has underperformed after the announcement of Brexit and concerns over weaker demand for London property sales as multinational corporations deliberate on relocating their headquarters back to Europe.
We have maintained our earnings estimates pending a possible asset sale, but have decided to maintain our numbers pending new management’s strategy and also due to being wary of negative earnings in upcoming 3QFY16/4QFY16 results.
When Ta Ann Holdings Bhd announced its proposed acquisition of Agrogreen Ventures Sdn Bhd for RM211.14 million on Oct 24, what immediately caught the market’s attention was that there is an existing claim in court over a significant portion of the latter’s land.
It only takes one bad quarter to spook investors. After posting a 20% drop in first-quarter net profit, Gadang Holdings Bhd saw its share price fall almost 13% from a record high of RM3.38 two days earlier.
Mass Rapid Transit Corp Sdn Bhd has awarded two work packages worth a combined RM1.58 billion for the construction of the MRT Sungai Buloh-Serdang-Putrajaya Line to WCT Bhd and MTD Construction Sdn Bhd.
Lead analyst at DBS Derek Tan notes the recent share price weakness of S-REITs was due to increased macro uncertainties, coupled with the fourth quarter traditionally being unhappy times for REIT investors.
Revenue declined 3.4% to S$3,439.6 million, mainly because of lower contributions from the Singapore and Australia strategic business units.
In a statement yesterday, Ekovest managing director Datuk Seri Lim Keng Cheng said with the latest contract, the group's total outstanding construction order book stands at RM5.7 billion.
Ekovest managing director Datuk Seri Lim Keng Cheng said with the latest contract, the group’s total outstanding construction order book now stands at RM5.7 billion.
Kesturi stake disposal is in line with strategy for matured infrastructure assets.
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