cahya mata

 
 

Raintree Square set to spearhead retail, leisure scene at The Isthmus

KUCHING: Raintree Square is set to spearhead the retail and leisure scene at The Isthmus, as it has been envisioned to be the centrepiece and catalyst for leisure and lifestyle in the area. Yesterday’s handing-over of 18 units of Raintree Square to UCSI Peterson Properties Sdn Bhd (UCSI), a member of UCSI Group, marked a […]


Construction sector outlook still challenging

PETALING JAYA: The outlook for the local construction sector remains challenging as the government is reviewing ongoing infrastructure projects to reduce costs by 20% to 33%, said Affin Hwang Capital.

Projects that could be affected include MRT2 and LRT3, Pan Borneo Highway and Gemas-Johor Baru double-tracking projects.

Affin Hwang Capital said MRT2 could see a 25% reduction in cost to RM24 billion from an initial estimate of RM32 billion. The MMC-Gamuda JV will be the most affected as it is the main contractor for the underground section and the project delivery partner (PDP) for the aboveground section of MRT2.

“Since the cost reductions will come from the reduction in the scope of works, we believe only the contract values will be reduced while profit margins should be preserved,” it said.

For LRT3, the construction cost could be slashed to RM9 billion to RM10 billion from an initial estimate of RM15-16 billion.

“The MRCB-George Kent JV will be most affected as the PDP for the project. We maintain our forecasts for MRCB as we believe we were conservative in our contract value assumption at RM9 billion for the LRT3 despite the previous escalation in cost. Other contractors affected include Gabungan AQRS Bhd, IJM Corp Bhd, Sunway Construction Group Bhd and WCT Holdings Bhd.”

Having said that, Affin Hwang Capital noted that there are opportunities in state government projects in Penang and Sarawak.

The Sarawak state government plans to complete the upgrading of the coastal highway and trunk roads at an estimated RM11 billion. Potential beneficiaries are Cahya Mata Sarawak Bhd and Hock Seng Lee Bhd.

Meanwhile, the Penang Transport Master Plan is pending approval by federal government authorities and public feedback collection is ongoing. The Pan Island Link 1 Highway and George Town-Bayan Lepas Airport LRT is estimated to cost RM16 billion. The Gamuda-led SRS Consortium is the PDP for the project.

Affin Hwang Capital is maintaining a “neutral” call on the construction sector due to the risk of order book reductions.

“However, we believe the concerns are reflected in current share prices. Our top buys are IJM Corp Bhd, Sunway Construction Group Bhd and HSS Engineers Bhd.”

Construction companies reported mixed results in Q2, with most seeing slower sales and progress billings due to general election uncertainties. However, construction earnings for most companies showed positive growth momentum.


CMS records significant improvement in earnings for 1H18

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KUCHING: Cahya Mata Sarawak Bhd (CMS) recorded significant improvements for its performance for first half of 2018 (1H18), driven by its associates’ healthy numbers. Beyond this, CMS believes that its growth strategy for its strategic investments are expected to drive the next wave of growth for CMS Group. Last week, CMS reported a total revenue […]


KLCI struggles to recoup losses, stages marginal recovery

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KUALA LUMPUR (Aug 14): The FBM KLCI struggled to recoup some lost ground in the morning session today amid some choppy trading. At 12.30pm, the FBM KLCI rose 0.3 points to 1,783.64. The index had earlier slipped to its intra-morning low of 1,778.20. Gainers edged losers by 303 to 255, while 549 counters traded unchanged. Volume was 1.16 billion shares valued at RM987.79 million. The top gainers included ViTrox Corp Bhd, British American Tobacco (M) Bhd, Far East Holdings Bhd, Lingkaran Trans Kota Holdings Bhd, Cahya Mata Sarawak Bhd, YSPRead More


Bursa Malaysia ends week on mixed note

KUALA LUMPUR, Aug 10 ― Bursa Malaysia ended the week on a mixed tone today, with gains in consumer and industrial products counters limited by profit-taking. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was marginally higher at…


KLCI pares gains as decliners overtake advancers

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KUALA LUMPUR (Aug 10): The FBM KLCI pared some of its gains at midday today as decliners overtook advancers, tracking the sentiment at most regional markets. At 12.30pm, the FBM KLCI was up 3.52 points to 1,808.47. The index had earlier risen to a high of 1,812.69. Losers overtook gainers by 289 to 254, while 587 counters traded unchanged. Volume was 1.07 billion shares valued at RM709.42 million. The top gainers included United Plantations Bhd, British American Tobacco (M) Bhd, United Malacca Bhd, Malaysia Airports Holdings Bhd, Petronas Gas Bhd,Read More


KLCI gets off on a flat note, tracks subdued region

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KUALA LUMPUR (Aug 9): The FBM KLCI started on a flast note this morning, tracking its subdued regional peers. At 9.05am, the FBM KLCI was up 0.49 points to 1,805.22. The gainers included Ibraco Bhd, Far East Holdings Bdh, Petronas Chemicals Group Bhd, Hong Leong Industries Bhd, Public Bank Bhd, Cahya Mata Sarawak Bhd, Malaysian Pacific Industries Bhd, Gas Malaysia Bhd, DKSH Holdings (M) Bhd and Tenaga Nasional Bhd. Asian shares were subdued on Thursday after a new round of tit-for-tat tariffs in the U.S.-Sino trade conflict torpedoed oil prices,Read More


KLCI claws into positive territory as Tenaga lifts

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KUALA LUMPUR (Aug 3): The FBM KLCI clawed into positive territory at the midday break today, lifted by gains at Tenaga Nasional Bhd and other select blue chips. At 12.30pm, the FBM KLCI was up 0.27 points to 1,778.40. The index had earlier slipped to a low of 1,773.89. Gainers edged losers by 271 to 247, while 539 counters traded unchanged. Volume was 960.96 million shares valued at RM685.97 million. The top gainers included United Plantations Bhd, Hong Leong Financial Group Bhd, Petronas Gas Bhd, Amway (M) Holdings Bhd, Tenaga,Read More


KLCI reverses loss, edges up in line with region

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KUALA LUMPUR (Aug 1): The FBM KLCI reversed its earlier loss and climbed into positive territory at the midday break today, tracking gains at the regional markets. At 12.30pm, the FBM KLCI gained 0.12 points to 1,784.37. The index had earlier fallen to its intra-morning low of 1,777.58. Gainers led losers by 293 to 246, while 569 counters traded unchanged. Volume was 1.26 billion shares valued at RM743.19 million. The gainers included Petronas Gas Bhd, Perusahaan Sadur Timah Malaysia (Perstima) Bhd, Chin Teck Plantations Bhd, Far East Holdings Bhd, SuiwahRead More


KLCI reverses loss but broader sentiment stays tepid

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KUALA LUMPUR (July 31): The FBM KLCI reversed its earlier losses at the midday break today, lifted by select index-linked blue chips, but the broader market sentiment remained tepid, tracking regional markets. At 12.30pm, the FBM KLCI was up 0.23 points to 1,770.49. The index had earlier slipped to its intra-morning low of 1,764.21. Losers led gainers by 332 to 235, while 557 counters traded unchanged. Volume was 1.42 billion shares valued at RM896.78 million. The gainers included Chin Teck Plantations Bhd, Analabs Resources Bhd, Petronas Gas Bhd, Ajinomoto (M)Read More