Sabah & Sarawak
Sheda: Time is ripe to buy properties
The Sarawak Housing and Real Estate Developers’ Association (Sheda) urges interested buyers to consider purchasing property soon as they believe the time is right.
“It’s the best time to buy now because prices are not yet reflective of our falling currency,” explained Dr. Christopher Ngui, chairman of Sheda’s Kuching Branch during a press conference promoting their first Home and Property Roadshow 2017.
HSP exceeds expectations, steady improvements ahead
Sabah-based Hap Seng Plantations Holdings Bhd’s (HSP) financial year 2016 (FY16) performance exceeded expectations and analysts expect the company to continue reporting steady growth ahead.
In a report, the research arm of Kenanga Investment Bank Bhd (Kenanga Research) pointed out that HSP’s FY16 core net profit (CNP) was at RM124.6 million, which exceeded the consensus’ RM110.9 million forecast by 112 per cent.
Naim records improvement in property segment for FY16
Naim Holdings Bhd (Naim) achieved an improvement in profit from RM12.1 million for 2015 to RM15.8 million for 2016 for its property segment.
The segment also recorded new property sales of about RM112 million for 2016, a welcomed result against the backdrop of the current slowdown in the property market.
Analysts positive on Dayang’s prospects for 2017
Analysts at the research arm of Public Investment Bank Bhd (PublicInvest Research) foresee bright prospects for Dayang Enterprise Holdings Bhd (Dayang) this year.
The research firm in a report said Dayang remains a strong contender for more jobs going forward with the company’s execution capabilities and positive track record with its clients.
Following a company’s briefing, the research firm opined that Dayang could be a beneficiary of potential maintenance jobs for the oil and gas (O&G) industry as national oil corporation Petroliam Nasional Bhd (Petronas) recalibrates its budget and capital expenditure plans.
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National
Foreign funds bought RM493.9 million on Bursa last week
Foreign investors increased their exposure on Malaysian equities last week with a net purchase of RM493.9 million for the week ended February 17.
The research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) in a report said foreign investors upped the ante in their trading on Bursa, mopping up Malaysian equity for the second consecutive week ended February 17.
Zeti willing to cooperate with BNM forex loss investigation
Former Bank Negara Malaysia (BNM) Governor Tan Sri Dr Zeti Akhtar Aziz says she is willing to cooperate with the investigation into the alleged foreign exchange (forex) trading loss of US$10 billion by the central bank in the 1990s.
Speaking to reporters here, Zeti said the issue was never raised during her 16-year tenure as Governor.
Maybank FY16 pre-tax profit falls to RM8.84 bln
Malayan Banking Bhd’s (Maybank) pre-tax profit for financial year ended December 31, 2016 (FY16) declined to RM8.84 billion from RM9.15 billion in FY15.
Its revenue, however, rose to RM44.66 billion from RM40.56 billion in FY15.
Axiata eyes opex, capex savings of RM1.5 bln in 2018, 2019 — CEO
Axiata Group Bhd (Axiata) is working towards RM1.5 billion additional operating expense (opex) and capital expenditure (capex) savings in 2018 and 2019.
“We have built in RM800 million opex and capex savings in our 2017 plan, and we are working towards RM1.5 billion additional savings in 2018 and 2019,” said president/group chief executive officer, Tan Sri Jamaludin Ibrahim.