News by M

We reiterate our “buy” call on Malaysian Resources Corporation Bhd (MRCB) with an unchanged fair value of RM2.22 per share, a 20% discount to its net asset value (NAV).

UEM Sunrise Bhd has announced that it is selling Imperia Building to UEM Group Bhd for RM137.8 million (inclusive of the RM7.8 million goods and services tax (GST).

Prices in Setapak have surged in the past two years on the back of new launches with higher prices. Based on analysis of transactions by theedgeproperty.com, average prices grew 12.5% y-o-y to RM389 psf in 3Q2014.

Setia EcoHill 2 has a net sellable area of 501 acres, with 215 acres set aside for strata-titled landed properties. In total, 382 acres will be allocated to residential properties and 119 acres for commercial developments.

OSK Property Holdings Berhad (OSK Property) has been listed on Forbes Asia’s Best Under a Billion 2015.

Prices of homes on Johor Baru’s secondary market remained firm in 1Q2015, according to The Edge-KGV International Property Consultants Johor Baru Housing Monitor for the period.

The property market in Setapak is fairly level, with condominiums and apartments in the area predominantly serving the affordable and mid-end segment.

Imperia Building’s selling price represents a 4.2% premium to the market value of RM124.8 million, as appraised by Knight Frank Malaysia Sdn Bhd.

Tadmax Resources Bhd clarified today that the valuation of its Pulau Indah land for sale to 1Malaysia Development Bhd (1MDB) was not subject to approval by the Securities Commission Malaysia (SC).