Tambun Indah Land Bhd was the second biggest loser on Bursa Malaysia in Tuesday (Feb 14) morning trade, shedding as much as 11 sen or 11.58%, after it announced that its net profit for the fourth quarter ended Dec 31, 2022 (4QFY2022) fell by 57.44% from a year ago.
KUALA LUMPUR (March 5): Maybank Investment Bank Research (Maybank IB Research) said today the worst is over for the property sector as it believes the sector should continue to be driven by a better economic outlook, historically low interest rate environment and pent-up demand.
Its analyst Wong Wei Sum said in a note that despite the reimposition of Conditional Movement Control Order (CMCO) and Movement Control Order (MCO) in the fourth quarter of 2020 (4Q20) to 1Q21, property sales continued to recover from the impact of the coronavirus pandemic. Judging from the sales momentum in early 2021, most developers expect a better sales outlook in FY21 though it may be coming at the expense of lower margins on lower pricing, she added.