Our top pick for the sector is Sunway REIT (Buy; TP: RM1.93) due to its positive earnings outlook. We believe its retail division will continue to spur earnings growth going forward while the office segment may rebound from its previous low.
We expect overall margin to remain at a low in the second half (2H) as contractors may continue to be prudent in terms of margin recognition. Industry players are aiming for jobs in Sarawak as emphasis will be placed on state water and rural road projects.
If the bid is successful, the three parties will form a joint-venture (JV) company to proceed with the projects in Sarawak, it said.
OWG is allocating RM50 million as capital expenditure for FY19, which will be used to upgrade its existing indoor playlands and commence new playlands. For the loss-making Komtar Tower, Koh said the group is undertaking aggressive marketing efforts to promote it.
The app was created so that a monthly pass could be purchased without residents having to go to a counter.
Daim warned that the residents' indecisiveness could affect them negatively.
“Mahathir represents the sentiments in the country that firstly we cannot continue with these mammoth projects at a time when the economy is struggling.”
CGPV also said its project marketing efforts are starting to venture into different regions, namely Hong Kong, Macau, Taiwan, Singapore, Indonesia, Thailand, Laos, Myanmar, the Philippines, Dubai, and Japan.
Sabah developers have long been faced with an extended approval process, which is one of the the reasons for rising property prices in the state.
The only property app you need. More than 200,000
sale/rent listings and daily property news.
