Company Overview and News

One million affordable homes target under review

2018-10-09 theedgemarkets
KUALA LUMPUR: The Pakatan Harapan government is looking to review its promise of building one million affordable homes as it now feels the country may not need that many units to address the affordable housing issue, said Housing and Local Government Minister Zuraida Kamaruddin.

Sunway likely to meet sales target due to good take-up rates

2018-09-14 theedgemarkets
Sunway Bhd (Sept 13, RM1.53) Maintain market perform with an unchanged target price (TP) of RM1.55: Yesterday, Sunway Bhd announced that their joint-venture with partner Hoi Hup Realty Pte Ltd, was awarded a land parcel measuring approximately 4.46 acres (1.80ha) at Canberra Link (Lot 4018N, MK19), Sembawang, Singapore for a 99-year lease term for executive condominium housing development at S$271 million or RM817.

Sunway REIT FY18 core net profit in line on better retail, hotel ops

2018-08-13 theedgemarkets
Sunway Real Estate Investment Trust (Aug 10, RM1.74) Maintain buy with a higher target price (TP) of RM1.92: Sunway Real Estate Investment Trust’s (REIT) core net profit of RM281.9 million in the financial year ended June 30, 2018 (FY18) was within our and market expectations. Revenue increased 7.1% year-on-year (y-o-y) mainly on better performances of its retail and hotel segments, including Sunway Pyramid, Sunway Pyramid Hotel and Sunway Putra Hotel, as well as additional income from newly acquired Sunway Clio Hotel and Sunway REIT Industrial Shah Alam.

CIMB IB Research keeps 'hold' call on Sunway REIT, lowers target to RM1.76

2018-08-10 theedgemarkets
KUALA LUMPUR (Aug 10): CIMB IB Research has maintained its "hold' rating on Sunway Real Estate Investment Trust (REIT) at RM1.74 with a lower target price of RM1.76 (from RM1.79) and said the REIT has earmarked a RM370 million to RM380 million capital expenditure (capex) for retail and hotel asset enhancements over the next two financial years.

Sunway REIT declares 2.15 sen DPU as NPI rises 1.8%

2018-08-10 theedgemarkets
KUALA LUMPUR: Sunway Real Estate Investment Trust (REIT), which registered a 5.36% year-on-year fall in net profit from RM218.84 million to RM207.11 million in the fourth quarter ended June 30, 2018 (4QFY18), has warned of the “fundamentally challenging oversupply situation” due to the tremendous new supply of retail, hotel and commercial space in the market.

SunREIT posts higher profit

In a statement yesterday, Sunway REIT Management Sdn Bhd CEO Datuk Jeffrey Ng(pic) said the group’s acquisition growth strategy had yielded desired results as the two newly completed properties had contributed positively to the income stream and cushioned the softer performance in some existing properties

KLCI seen opening flat, to hover above 1,790-level

2018-08-09 theedgemarkets
KUALA LUMPUR (Aug 10): The FBM KLCI is seen opening flat today in line with the weaker overnight close at Wall Street, but hover above the 1,790-level.
5843 5029 5216 SPMXY 7251 5225 SPMXF 5176 5272 Q0F IHHHF

Supermax, Gamuda, KPS, Sunway REIT, Bintai Kinden, Far East, Datasonic, Velesto, Barakah Offshore, MyEG, Ranhill, Asdion and IHH

2018-08-09 theedgemarkets
KUALA LUMPUR (Aug 9): Based on corporate announcements and news flow today, stocks in focus tomorrow may include the following: Supermax Corp Bhd, Gamuda Bhd, Kumpulan Perangsang Selangor Bhd (KPS), Sunway Real Estate Investment Trust, Bintai Kinden Corp Bhd, Far East Holdings Bhd, Datasonic Group Bhd, Velesto Energy Bhd, Barakah Offshore Petroleum Bhd, My EG Services Bhd, Ranhill Holdings Bhd, Asdion Bhd and IHH Healthcare Bhd.
7251 SPMXF 5176 5272 532843 5843 5029 5216 SPMXY 5225 FORTIS Q0F IHHHF

Sunway REIT declares 2.15 sen DPU, warns property glut is a challenge

2018-08-09 theedgemarkets
KUALA LUMPUR (Aug 9): Even as it endeavours to maintain a 100% payout of its distributable net income in the next fiscal year, Sunway Real Estate Investment Trust has cautioned of the “fundamentally challenging oversupply situation” brought about by tremendous new supply of retail, hotel, and commercial space in the market, exacerbated by lacklustre foreign direct investments and tourism activities.

KLCI seen trending lower, immediate support at 1,730

2018-07-22 theedgemarkets
KUALA LUMPUR (July 23): The FBM KLCI is trending lower today, in line with the weaker close at most global markets last Friday, with immediate support at 1,730.
5090 5258 1589 5176 5263

Gamuda, IWCity, BIMB, Salcon, Cabnet, SunCon, Sunway REIT and Media Chinese

2018-07-20 theedgemarkets
KUALA LUMPUR (July 20): Based on corporate announcements and news flow, companies that may be in focus on Monday (July 23) include the following: Gamuda Bhd, Iskandar Waterfront City Bhd, BIMB Holdings Bhd, Salcon Bhd, Cabnet Holdings Bhd, Sunway Construction Group Bhd, Sunway Real Estate Investment Trust and Media Chinese International Ltd. Gamuda Bhd’s 40% associate Syarikat Pengeluar Air Selangor Holdings Sdn Bhd (Splash) has withdrawn its claims against Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) in order to facilitate negotiations on the disposal of Splash with the State government of Selangor.
5090 5258 1589 5176 5263

SunCon and Sunway REIT agree to contract revision to RM286m

2018-07-20 theedgemarkets
KUALA LUMPUR (July 20): Sunway Construction Group Bhd (SunCon) and Sunway REIT Management Sdn Bhd have mutually agreed to revise the provisional contract sum of an ongoing project in Penang from RM274 million to RM286 million due to additional scope of works.
5176 5263 BSMAF 1818

Sunway REIT seen resilient amid challenges

2018-07-06 theedgemarkets
Sunway Real Estate Investment Trust (July 5, RM1.70) Maintain hold with a lower fair value of RM1.68: We maintain our “hold” recommendation on Sunway Real Estate Investment Trust (SunREIT) with a lower fair value of RM1.68 (from RM1.70 previously) based on a forward target yield of 6%, following our earnings revision.

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