FY15 revenue growth of 18% y-o-y was mainly underpinned by the contribution from its new asset acquisitions during the year, and this has more than offset the absence of income from Axis Business Park, which remains untenanted post-refurbishments.

The most expensive projects were in the Bayan Indah enclave in Pantai Jerejak, led by Putra Place (RM660 psf)...

Contrary to the broader slowdown in the UK property segment, we believe the ultra high-end or luxury property segment selectively remains unaffected. 

The prospects for the piling segment remain strong, backed by various mega infrastructure projects like mass rapid transit 2 (MRT2) and light rail transit 3 (LRT3) as well as a structural shift towards high-rise developments.

Northeast Penang is perceived as the upmarket part of the island, but Southwest Penang is becoming more appealing with numerous projects underway related to the Penang Second Bridge and Penang Transport Master Plan. 

Revenue grew a decent 2.9% y-o-y despite weaker market sentiment, underpinned by a positive rental reversion stemming from the refurbishment works completed in 2014 for Pavilion Kuala Lumpur (PavMall).

Last Thursday, IJM Corp Bhd announced that it had bagged a contract from UEM Land Bhd for main building works — Phases 1A and 1B — for the proposed mixed-use development known as Almãs in Puteri Harbour, Johor, worth RM484.2 million.

Given the soft property market environment, UOA Development Bhd is planning only four launches in 2016, with an estimated gross development value (GDV) of RM3.5 billion. 

Most buyers selective and careful with their purchases.

The Penang Transport Master Plan is expected to improve connectivity in the area with the Bayan Lepas LRT line from Gurney Drive to Teluk Kumbar and Batu Maung; and the Pan Island Link Highway project from Gurney Drive to Bayan Lepas.