For FY18, Kerjaya Prospek has secured about RM500 million worth of contracts (from Bukit Bintang City Centre and Seri Tanjung Pinang Phase 2), accounting for 42% of our RM1.2 billion targeted replenishment.

Operations would continue as usual as Media Prima has entered into a tenancy agreement for Balai Berita Bangsar (headquarters) and Shah Alam (printing plant).

The group had successfully achieved RM1.1 billion new sales as of August 2018, which accounted for 64% of its sales target of RM1.8 billion set for this year.

Its property arm was the star performer as PBT jumped 87% y-o-y and 94% q-o-q to RM45 million for 1QFY19 (it was the highest contributor at 44% of group PBT).

A view on the Malaysian housing market.

Management said the group secured new sales of RM10 million from Tiong Nam Business Park @ Batu Pahat 8 project year to date (YTD).

Matrix clocked in total sales of RM381.6 million (+29.3% from 1QFY18) in 1QFY19 (despite 14th general election factors) attributable to the growing demand of its township and affordable pricing point.

Our target price is based on 45% discount to revalued net asset value.

The company is encouraged by strong take-up of township launches and improving market sentiments after the 14th general election (GE14).

How did the new government perform in the first 100 days?