Company Overview and News
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Iconic building: A file picture showing construction cranes in operation around Battersea Power Station in London. Analysts maintain that selling the building, will help developers S P Setia and Sime Darby Property with their cash flow. — Reuters (9-0)
THE recent action by the Inland Revenue Board (IRB) to squeeze more money out of SP Setia Bhd is all the more reason why companies and individuals have to be more careful with their books.
“As for the international projects, Sapphire By The Gardens in Melbourne, Australia continued to outperform with a strong take-up rate of 83% amounting to RM871.7mil after only less than four months from the date of launch, "Sp Setia said (An artist’s impression of S P Setia’s ‘Sapphire By The Gardens’ development that is overlooking Carlton Gardens in Melbourne, Australia.) (4-0)
S P Setia president and CEO Datuk Khor Chap Jen said: “The sales achieved reflect an increased demand for the group’s projects in the second quarter of FY2017.
A SHARP decline in the British pound following the results of the UK election yesterday will impact a number of Malaysian companies that are in the property development, utility and casino operation sectors.
Eco Sanctuary was the second of the two earlier condominium projects by S P Setia in Singapore.
April 17 The following bids, mergers, acquisitions and disposals were reported by 0100 GMT on Monday:
KUALA LUMPUR (April 12): Based on corporate announcements and news flow today, companies in focus on Thursday (April 13) may include the following: S P Setia, MNC Wireless, M3Tech, CCK Consolidated, NetX, Zhulian, GHL, Alcom, Heineken, Lion Industries, Berjaya Assets, PDZ, MAA Group and AsiaBio. (0-1)
KUALA LUMPUR: OSK Holdings Bhd has roped in the Employees Provident Fund (EPF) as its financial partner to develop an upcoming five-acre (2.02ha) mixed-use development in Melbourne, Australia, with an expected gross development value (GDV) of some A$2.8 billion (RM9.39 billion). (0-1)
KUALA LUMPUR (April 3): The FBM KLCI dipped below the 1,740 level at mid-morning today as some mild profit taking kept a lid on the local market.
KUALA LUMPUR (Feb 24): The FBM KLCI could open higher today in line with the overnight gains at most global markets, lifted by some mild bargain hunting at the local bourse.
KUALA LUMPUR (Feb 23): Based on corporate announcements and news flow today, companies in focus on Friday (Feb 24) may include: S P Setia, Maybank, Axiata, Pos Malaysia, Genting Malaysia, Magnum, Unisem, IHH Healthcare, IJM, AirAsia and SunCon.
KUALA LUMPUR (Feb 23): S P Setia Bhd posted net profit of RM424.8 million for the fourth quarter ended Dec 31, 2016 (4QFY16), bringing its total bottomline in FY16 to RM808.03 million.
KUALA LUMPUR (Jan 27): The FBM KLCI pared some of its gains at mid-morning today on some mild pre-holiday profit taking activities.
If we start with consensus recommendations, we can see that the bottom-up country relative consensus recommendations (the chart on the right below) show us that Malaysia has not been a “buy” in Asia for the past five years.