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Bursa's property index rises on growing optimism

Bursa’s property index rises on growing optimism
The Edge
11/3/2021
Arjuna Chandran Shankar
© Provided by The Edge
KUALA LUMPUR (March 11): Bursa Malaysia’s Property Index traded higher today amid better sentiment surrounding the property sector.
The index reached an intra-morning high of 751.69 points, rising by 1.95% or 14.4 points from the 737.29 achieved yesterday.
At 11.52am, the index has moderated some of the gains seen earlier this morning, up by 1.22% or nine points at 746.29. At the time of writing, the Property Index was the ninth-best performing index on Bursa Malaysia and outperformed the benchmark FBM KLCI, which recorded a 0.62% or 10.17-point decline to 1,629.66. ....

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EcoWorld, EWI set combined sales target of RM5b for FY21

KUALA LUMPUR (Dec 17): Eco World Development Group Bhd (EcoWorld) and its 27%-owned associate Eco World International Bhd (EWI) have set a combined sales target of RM5 billion for the financial year ending Oct 31, 2021 (FY21).
Based on the strategic plans we have put in place in every geographic location to restrategise and refocus on key segments of the market that have proven depth and resilience, I am confident that the target, despite being 30% higher than the sales achieved in FY20, is attainable, said EcoWorld chairman Tan Sri Liew Kee Sin.
“In addition, the proactive steps taken in FY20 to reduce and reset the cost structure of both our Malaysian and international operations, coupled with our team’s willingness to continually reinvent and relearn the way we do business, will help counteract the impact of a soft property market and preserve our cash flow and profit. ....

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Latitude Tree, Metronic, My EG, Dutch Lady, Affin Bank, Eco World, Eco World International, VS Industry, Scientex, LKL International and Perak Corp

KUALA LUMPUR (Dec 17): Based on corporate announcements and news flow today, companies that may be in focus on Friday (Dec 18) include: Latitude Tree Holdings Bhd, Metronic Global Bhd, My EG Services Bhd, Dutch Lady Milk Industries Bhd, Affin Bank Bhd, Eco World Development Group Bhd, Eco World International Bhd, VS Industry Bhd, Scientex Bhd, LKL International Bhd and Perak Corp Bhd.
Latitude Tree Holdings Bhd has proposed a one-for-one bonus issue of up to 97.16 million new shares plus an employees’ share scheme (ESS) of up to 10% of the total issued share capital of the company.
The furniture maker said the actual number of bonus shares to be issued will depend on the total issued shares on the entitlement date, which will be determined and announced at a later date upon receipt of all relevant approvals. It said the ESS is for eligible directors and employees of the company and its subsidiaries. ....

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TEPEA recognises the industry's best | The Edge Markets

PETALING JAYA (Dec 14): S P Setia Bhd clinched the top spot in
The Edge Malaysia Top Property Developers Awards (TPDA) 2020, marking the fifth consecutive year the company won the spot. It dropped to third and fourth positions in 2014 and 2015 respectively, before regaining the title in 2016.
S P Setia president and chief executive officer (CEO) Datuk Khor Chap Jen said the developer is elated to be awarded top honours for the 13th time.
“This would be impossible if not for the strong teamwork we have at Setia. It hasn’t been easy as we have been facing strong headwinds with the soft market and in addition to that, the unprecedented Covid-19 pandemic. No industry has been spared, but our team spirit persevered, and we rose up to overcome the odds by continuing to deliver our best. I would like to dedicate this win to Team Setia,” he added. ....

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