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CGS-CIMB Securities Sdn Bhd and MIDF Amanah Investment Bank Bhd had today maintained their "add" and "buy" calls respectively for Gas Malaysia Bhd shares after the company declared yesterday its first interim dividend of 4.8 sen a share for the current financial year ending Dec 31, 2021 (FY21). ....
KUALA LUMPUR (May 6): Gas Malaysia Bhd’s earnings for the financial year ending Dec 31, 2021 (FY21) may decline from FY20 amid a predicted drop in average gas selling price, said CGS-CIMB. In a note today, its analyst Ngo Siew Teng said the lower selling price could in turn affect its shipper unit profits. However, she pointed out that “there could be potential earnings upside if the average gas selling price is revised up in future according to market prices (2020: RM33.65/MMBtu vs. Jan-Jun 2021: RM24.50/MMBtu)”. Gas Malaysia expected its gas volume for FY21 to grow in line with Malaysia’s gross domestic product (GDP) growth, which Bank Negara Malaysia has forecast to range from 6% to 7.5%. ....
KUALA LUMPUR (Jan 7): CGS-CIMB Research gathered that S P Setia Bhd plans to launch projects worth up to RM3.7 billion in gross development value (GDV) in financial year 2021 (FY21), versus the RM2.8 billion planned GDV in FY20F, out of which about 94% will be in Malaysia. Some 54% of the total new launches would be projects with properties priced below RM1 million each, with the rest comprising properties priced above RM1 million each. In terms of product mix, about 67% will be landed residential units, followed by condominiums and apartments (14%), commercial units (9%), serviced apartments (4%), affordable housing (4%), and industrial units (2%), said CGS-CIMB analyst Ngo Siew Teng in a report today. ....