Bagging the big one

3Q10  result  was  within  expectation.  The cumulative  net  profit  of  RM204.1m  (36%yoy) accounted  for  75%  of  our  full  year  forecast  of RM269.5m.

BUY RM3.21 KLCI : 1,325.87
Price Target : 12-month RM 4.35
Reason for Report : Analyst briefing on MRT project
Potential Catalyst: MRT project, Vietnam sales

KUALA LUMPUR: Gamuda Bhd’s third quarter net profit for the financial year ending July 31, 2010 (3QFY2010) increased 57.7% to RM73 million from RM46.3 million a year earlier due to higher contributions from all divisions.

There is usually a correlation between real estate values and highway accessibility, as evident from numerous successful projects and schemes located along major highways.

SHAH ALAM: State-controlled Kumpulan Hartanah Selangor Bhd (KHSB) is planning a high-end mixed development at a prime location in Section 14, Petaling Jaya with a potential gross development value (GDV) of nearly RM1 billion.

Its chairman Datuk Abdul Karim Munisar said the company was finalising the purchase of a 9.3-acre plot there for the proposed development.

OVERWEIGHT

Malaysian Resources Corp Bhd

The Edge Investment Forum on Real Estate 2010

Following the Middle Eastern oil trail