The core net profit growth of 10% was underpinned by steady revenue growth of 4%. The growth in revenue was mainly attributable to the steady progressive billings of its ongoing projects and completion of selected phases of Taman Pulai Indah and Taman Pulai Hijauan, Bandar Universiti Seri Iskandar as well as FLEXIS @ One South.

A slowdown will not augur well for retail real estate investment trusts (REITs) as their asset portfolios comprise mainly shopping malls.

In the 12 months to 1Q2015, the highest average price growth was at Saujana Permai Flat (+32.6%) and Saujana Damai Apartments (+31.8%).

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.