Latest asset buy seen to have muted impact on Axis REIT’s earnings
The acquisition was well within expectations as Axis REIT had already issued a letter of offer.
Hua Yang seen to perform better in coming quarters
Property sales of RM63.3 million are on track to meet our target of RM249.7 million.
Revised LRT3 plan positive for George Kent
Currently, its outstanding order book inclusive of LRT3 stands at RM5.3 billion (based on previous budget of RM9 billion).
Scientex seen to focus on plant utilisation ramp-up
Its top line came in below, at 65%, which we believe was due to weaker-than-expected recognitions for the property segment from latest projects.
Kimlun’s outlook seen to be buoyed by affordable housing projects
Outlook for Kimlun is buoyed by affordable housing projects, in line with Pakatan Harapan’s manifesto to build one million affordable homes.
Sales outlook for property sector remains unexciting
Many developers held back new launches running up to the 14th general election as buyers were holding back given the uncertainties.
No more landbanking activities seen for Hua Yang
Unbilled sales have fallen to a low of RM178.9 million, which is only sufficient for another one to two quarters.
Axis REIT’s 1Q realised net income within expectations
FY18 and FY19 will see minimal leases expiring at 16.8% and 14.6%, respectively, of portfolio’s net lettable area.
Better reversions seen for CMMT
Reversions were finally positive at +2.2%, improving significantly from -12.4% in 1QFY17, and -1.3% in 4QFY17.
IGB REIT not expected to make any acquisitions in the near term
Southkey Mall in Johor is slated for completion in the second half of FY18.
