Mah Sing Group Bhd
(RM2.41/share)
May land up to RM150m
deals in Klang Valley
Mah Sing Group Bhd, the sixth largest property stock by
market capitalisation, is expected to ink one or two deals to buy land in the
Klang Valley for between RM100mil and RM150mil in the next quarter, sources
said.
The group is targeting to acquire land with gross
development value (GDV) of RM5bil this year. It has acquired land in Rawang,
Kota Kinabalu and Bandar Baru Bangi for a combined RM452.3mil, which is 73% of
its GDV target. Mah Sing would need another RM1.4bil in GDV to achieve its
full-year target. Assuming the land cost is also about 12% of the GDV, it
equates to about RM150mil. Group managing director and group chief executive Tan Sri
Leong Hoy Kum said it is buying a large piece of land in the Klang Valley to
build mixed landed properties.
He declined to elaborate on the proposed development and
land cost. He added that Mah Sing was eyeing more land in Greater Kuala Lumpur,
Penang, Johor, Sabah, Perak, Malacca and Kedah and is especially interested in
developing the Rubber Research Institute of Malaysia land in Sungai Buloh. –
Business Times
Axiata Group Bhd
(RM5.99/share)
Celcom Axiata sees
25pc revenue growth
Mobile telecommunications company, Celcom Axiata Bhd, aims
to increase revenue growth by 25% by year-end with the launch of the PortaWiFi
USB port coupled with other solutions, including the Celcom Dongle Wifi as well
as its data plans. Chief financial officer Chari TYT said sales of the 21Mbps
data speed PortaWifi, which was launched yesterday, would beat the company’s
key performance indices. Celcom Axiata is the dominant broadband market leader
with above 50% market share. The company joined hands with USB manufacturer,
Huawei, to come out with the PortaWiFi for customers always on the go. Celcom
Axiata is part of the Axiata group of companies with more than 180 million customers
across 10 Asian markets. – Business
Times
Malaysian Resources
Corp Bhd (RM1.73/share)
Highway blues for
MRCB
The outcome of the negotiations between the government and
Malaysian Resources Corp Bhd (MRCB) on the settlement of the newly completed
Eastern Dispersal Link Expressway (EDL) in Johor is likely to be known only
after the general election. Officials close to the government said buying out
the highway from MRCB is the best option but this will not go down well with
the voters. On the other hand, he added, imposing toll on the highway as agreed
in the concession agreement is also not an option because it could mean higher
rates at the causeway as well. Unable to collect toll from the EDL Expressway,
MRCB has come under further pressure following downgrades of two of its sukuks
by RAM Ratings Services Bhd yesterday. – The Edge
Source: AmeSecurities
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