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Maybank Investment Bank Research (Maybank IB) said that the deal has a long-term lease structure and is potentially yield-accretive, despite having a minor contribution to earnings. (3-1)
MarketWatch: Wall Street posted modest gains on Wednesday after the US Federal Reserve kept interest rates unchanged and gave encouraging comments about the economy. The DJIA rose 57.77 points, or 0.25%, to 23,435.01, the S&P 500 gained 4.1 points, or 0.16%, to 2,579.36 and the Nasdaq dropped 11.14 points, or 0.17%, to 6,716.53. - Reuters (7-0)
Under the proposed land lease agreement, the 7.02-acre project land, which is vacant and located within the proposed Malaysia International Aerospace Centre Technology Park at the airport, will be leased out to Upeca at an intial sub-lease period of 30 years, with an automatic renewal and/or extension for a further 19 years up to Dec 30, 2066. (4-0)
Commenting on its latest quarterly financial results, Kenanga Research said the realised net income in the nine months of 2017 of RM68.4mil is broadly within its and consensus expectations at 74% and 72%, respectively. (1-0)
“The manager has proposed to distribute 99.69% from realised income available for distribution generated from operation for the third quarter of 2017,” Axis REIT said. (5-0)
MarketWatch: US stocks declined on Monday as each of the major Wall Street indexes retreated from a record, weighed down by a drop in technology and industrial shares. The DJIA fell 54.25 points, or 0.23%, to 23,274.38, the S&P 500 lost 10.19 points, or 0.40%, to 2,565.02 and the Nasdaq dropped 42.23 points, or 0.64 %, to 6,586.83. - Reuters (227-0)
KUALA LUMPUR: Maybank Investment Bank Research expects Wah Seong Corp to further strengthen its balance sheet via disposal or sales and leaseback schemes.
MarketWatch: The Nasdaq hit a record high on Monday ahead of a big week of technology earnings reports, while the S&P 500 and the Dow industrials lagged behind as losses in healthcare heavyweight Johnson & Johnson took a toll. The DJIA fell 66.9 points, or 0.31%, to 21,513.17, the S&P 500 lost 2.63 points, or 0.11%, to 2,469.91 and the Nasdaq added 23.05 points, or 0.36%, to 6,410.81. - Reuters
PETALING JAYA: Oil and gas services outfit Wah Seong Corp Bhd, which is proposing to dispose of 126.55 acres of leasehold land together with property in the Gebeng industrial zone near Kuantan, Pahang to Axis Real Estate Investment Trust (REIT), will stand to gain a one-off RM97.7mil from the total sale price of RM155mil of the land and property.
MarketWrap: US stocks fell on Thursday, continuing to pull back from the post-election rally, on investor caution ahead of Donald Trump's inauguration as president on Friday. The Dow fell for a fifth straight day, its longest losing streak since just before the Nov 8 US election. - Reuters The DJIA closed down 72.32 points, or 0.37%, to 19,732.4, the S&P 500 lost 8.2 points, or 0.4%, to 2,263.69 and the Nasdaq dropped 15.
KUALA LUMPUR (Jan 19): Based on corporate announcements and news flow today, companies that may be in focus on Friday (Jan 20) include Axis REIT, F&N, Ekovest, Pavilion REIT, Destini, TH Heavy Engineering, MMC Corp, UMW Oil & Gas, UMW Holdings and Versatile Creative.
MarketWrap: The S&P 500 ended a choppy session slightly higher on Wednesday helped by a rise in financials after Federal Reserve chair Janet Yellen said it "makes sense" to gradually lift interest rates. - Reuters The DJIA closed down 22.05 points, or 0.11%, to 19,804.72, the S&P 500 gained 4 points, or 0.18%, to 2,271.89 and the Nasdaq added 16.93 points, or 0.31%, to 5,555.65. Energy Oil prices fell on Wednesday to their lowest in a week, on a strong dollar and expectations that US producers would boost output even as Opec's output fell from a record high.
MarketWrap: US stocks closed higher on Monday, with the S&P 500 hitting a two-week high on the back of strong earnings and a flurry of deal activity, while the US dollar hovered near a nine-month peak against other world currencies. - Reuters The DJIA rose 77.32 points, or 0.43%, to 18,223.03, the S&P 500 gained 10.17 points, or 0.47%, to 2,151.33 and the Nasdaq added 52.43 points, or 1%, to 5,309.
Tags / Keywords: Corporate News , Property , Scomi Engineering Bhd , Axis Real Estate Investment Trust
KUALA LUMPUR (April 25): Based on corporate news flow and announcements today, stocks in focus tomorrow (Tuesday, April 26) could include: Dayang Enterprise Holdings Bhd, Mega First Corp Bhd, Malaysian Resources Corp Bhd (MRCB), Tanah Makmur Bhd, Imaspro Corporation Bhd, Voir Holdings Bhd, Dutch Lady Milk Industries Bhd, United Plantations Bhd, Bina Darulaman Bhd, Pensonic Holdings Bhd, Axis REIT, Hektar REIT, British American Tobacco (M) Bhd (BAT), Texchem Resources Bhd and Integrated Logistics Bhd.