Corwin owns a leasehold property, which is an eight-level shopping mall building known as The Verge. We view the disposal price as fair although it was above what we ascribed in our sum-of-parts (SOP) valuation due to the stronger Singapore dollar. 

The most expensive condominium was M Suites by Mah Sing Group. Since its completion at end-2013, the studio units (502 sq ft to 527 sq ft) have been the most popular, hence the high average transacted price of RM1,238 psf.

Despite estimated lower revenue, Gamuda’s local intra-urban tollways — Lingkaran Trans Kota Holdings Bhd (Litrak), Stormwater Management and Road Tunnel or better known as Smart Tunnel, Shah Alam Expressway (Kesas) and Lebuhraya Damansara-Puchong (LDP) —  have recorded a contribution of about 16.6% of revenue.

Long established as the expatriate and embassy enclave of Kuala Lumpur, Ampang is home to among the city’s most exclusive addresses.

Master Builders Association Malaysia (MBAM) president Matthew Tee, however, said that the situation could change if the ringgit continued its downward slide against the US dollar.

Growth in the property segment was largely driven by strong sales from The Garden Residences in Taman Mutiara, Skudai, Johor in addition to stable demand for other developments in Pasir Gudang, Kulai, Senai and Melaka.

We understand that Tambun Indah Land has secured advertising permits and developer licences (APDL) for Raintree Park 2 and Avenue Garden early this month, after delays of more than half a year.

Although Komtar will be launched on a single date, the various components are still targeted to be completed in two phases.

Ampang is one of Kuala Lumpur’s most elite neighbourhoods and embassy enclaves and its strata market aims high