Analysts do not expect any earnings surprises from Malaysiam property sector 09 Mar 2021 / 09:30 H. Most developers are said to be assessing the economic situation before deciding to continue with or defer future launches. Picture for representational purposes only – BERNAMAPIX
PETALING JAYA: Analysts expect no surprises in earnings prospects for the local property sector over the short to medium term, as developers are more aggressive in clearing unsold units by offering discounts with the inventory level on a declining trend
AmInvestment Bank Research (AmResearch) said developers generally reported lower new sales year on year, by about 24.5%, due to the lacklustre market and the impact of the movement control order (MCO) and Covid-19 pandemic – which it believes the clearing of unsold units is a positive move to realise cash flow.
PETALING JAYA: The outlook for the Malaysian property sector in the next 12 months remains challenging although most developers have achieved their ne.
PRASARANA Malaysia Bhd chairman Datuk Seri Tajuddin Abdul Rahman is looking to make significant changes at the rail and bus transport operator some of which may raise questions about the leadership and direction of the government-owned company.
For starters, documents viewed by The Edge reveal that Tajuddin, who was appointed chairman on May 11, had sought the termination of the contractors of the transport-oriented development at the Dang Wangi light rail transit (LRT) station, with Prasarana looking to play a more prominent role in the project and eventually move its office to the new development. The project going on at the LRT station is Latitud 8, a mixed-use commercial development with a gross development value (GDV) of RM1.2 billion.