wait for price down to 8.00

Of the deal is void than will go back to below 9.00 at least

10.60

Wait and see

wait for 2.50

Group-wide, Genting Bhd reported Thursday a 5% sequential decline in revenue to MYR6.5 billion (US$1.46 billion) and a 15% decline in Adjusted EBITDA to MYR1.86 billion (US$418 million) on declines in Malaysia, Singapore and the US, partially offset by growth in its UK and Egypt resort segment.

KUALA LUMPUR (Nov 25): IJM Corporation Bhd (KL:IJM) said it is buying a 50% stake in UK-based construction firm JRL Group Holdings Ltd for £50 million (RM283 million) to expand into the UK and strengthen its core construction capabilities.

In a media release, IJM Corp said the transaction involves its subscription to 50% of the enlarged equity interest in JRL.

The fresh capital injected by IJM Corp will help strengthen JRL’s balance sheet, enhance liquidity for working capital, and support future growth.

JRL racked up more than £80 million in losses in the past two years in what the British firm described as “the most challenging” times in its 27-year history.

IJM Corp in the statement, however, highlighted that JRL returned to profit in 2024, recording revenue of £311 million and a profit before tax of £9 million for the first six months of the financial year.

JRL has a sizeable order book of £1.5 billion, according to IJM Corp, which provides earnings visibility for the next three years and access to a robust pipeline of projects. This, IJM Corp said, will complement the group's outstanding order book of RM6.4 billion.

“Driven by operational improvements, this financial recovery positions JRL as a more resilient and competitive player in the UK construction market,” IJM Corp said.

The Malaysian construction giant also said the investment will bolster its foothold in the UK market via optimising value chain and enhancing project execution. “Through its brands — including main contractor Midgard, concrete specialist J Reddington, McMullen Facades, Ark M&E, and London Tower Crane Hire — JRL’s in-house capabilities align with IJM's ambitions to expand its exposure to the UK construction sector.”

JRL’s proven expertise in rail-adjacent and over-railway developments would also support IJM Land Bhd, a property arm of IJM Corp, in a joint venture (JV) with Network Rail Property, the group noted.

The JV, which focuses on urban regeneration and mixed-use over-railway developments across multiple strategic sites in London, has a combined gross development value (GDV) of over £3 billion.

Who is JRL?
Established in 1996, JRL is a diversified construction group offering integrated solutions across piling, groundworks, concrete frames, architectural design, and mechanical and electrical services.

Since 2021, JRL has also ventured into property development, building a portfolio of seven sites comprising build-to-rent and co-living units, with an estimated GDV of £700 million.

JRL’s construction arm, Midgard, was the main contractor for IJM Land’s maiden UK property development, Royal Mint Gardens Phase 1, completed in 2019.

IJM Corp's group CEO and managing director Datuk Lee Chun Fai said in a separate statement that the group’s investment in JRL marks a strategic step, “strengthening our construction portfolio and leveraging JRL’s technical expertise and market presence in the UK. Together, we aim to unlock new growth opportunities, deliver transformative projects, and create meaningful synergies in a key international market”.

“JRL’s track record with Royal Mint Gardens Phase 1 demonstrates their ability to deliver complex and technically demanding projects. Their expertise complements IJM Land’s ongoing UK projects, enhancing our capability to deliver quality developments that drive long-term growth,” added Lee.

John Reddington, the managing director of JRL, said: “We are excited to align with IJM, a leading construction group from Malaysia. This joint venture strengthens our position, and provides the opportunity to build on our success with projects like Royal Mint Gardens Phase 1, while advancing our pipeline of developments in the UK.”

Shares of IJM Corp closed four sen or 1.3% lower at RM3.01 on Monday, giving the group a market capitalisation of RM10.98 billion. Year to date, the stock has risen 60.1%.

https://theedgemalaysia.com/node/735312

JRL said the investment will reinforce its capital position, providing a strong financial foundation to support its £1.7 billion order book and strategic pipeline of high-value contracts in the coming years.

The partnership also builds on the successful collaboration between the two companies on the Royal Mint Gardens project in Central London, completed in 2020.

Phase Two of the central London development recently commenced on site with JRL leading construction. The project is targeted for completion in early 2028.

JRL said the investment signifies a strong alignment and strategic fit between JRL and IJM, enabling both companies to expand their footprint in the UK market and leverage their shared expertise to capture “significant growth opportunities”.

sell on monday

Becareful

Business getting tough to do. malaysia sooner or later investor will move away. Too many department or ministry get involve...sometime do not know which information or policy is correct especially the guideline.

See at rm2.00

the land can be develop for development already. all the nearby land is under development

this land is ready for development and near to btu town

see at rm4.00

MAVCOM has found that the anticipated merger by Gateway Development Alliance Sdn. Bhd., Pantai Panorama Sdn. Bhd., Kwasa Aktif Sdn. Bhd., and GIP Aurea Pte. Ltd. in relation to the proposed privatisation of Malaysia Airports Holdings Berhad would not infringe the prohibition in section 54 of the Malaysian Aviation Commission Act 2015.

The decision on the anticipated merger was made by MAVCOM on 8 November 2024.

Final Decision on the Voluntary Notification and Application of an Anticipated Merger by Gateway Development Alliance Sdn. Bhd., Pantai Panorama Sdn. Bhd., Kwasa Aktif Sdn. Bhd., and GIP Aurea Pte. Ltd. in relation to the Proposed Privatisation of Malaysia Airports Holdings Berhad

sop got esos. so people is selling it...

The price movement already built in the cpo increase. i doubt will increase again.

Consultation
Oct 30, 2024

Consultation on the Proposed Decision on the Voluntary Notification and Application of an Anticipated Merger by Gateway Development Alliance Sdn Bhd, Pantai Panorama Sdn Bhd, Kwasa Aktif Sdn Bhd, and GIP Aurea Pte Ltd in relation to the Proposed Privatisation of Malaysia Airports Holdings Berhad
MAVCOM has found, through its Proposed Decision, that the anticipated merger by Gateway Development Alliance Sdn Bhd, Pantai Panorama Sdn Bhd, Kwasa Aktif Sdn Bhd, and GIP Aurea Pte Ltd in relation to the proposed privatisation of Malaysia Airports Holdings Berhad would not infringe the prohibition in section 54 of the Malaysian Aviation Commission Act 2015.

MAVCOM welcomes any party to submit written feedback on the Proposed Decision by email to competition@mavcom.my by 5.00 pm on 6 November 2024.

Consultation on the Proposed Decision on the Voluntary Notification and Application of an Anticipated Merger by Gateway Development Alliance Sdn Bhd, Pantai Panorama Sdn Bhd, Kwasa Aktif Sdn Bhd, and GIP Aurea Pte Ltd in relation to the Proposed Privatisation of Malaysia Airports Holdings Berhad

fund is selling due to economy situation

NTA ia 4.10

share overhang issue will be there....the downward just started and also the competition from the surrounding and the digital bank

MNRB Holdings Berhad is currently trading at around MYR 2.22 as of October 2024, after seeing significant growth over the past year. Its stock price has surged by over 130% in the last 12 months. The stock's current price-to-earnings (P/E) ratio is quite low at about 4.02, suggesting that the stock could be undervalued compared to its earnings potential, especially given its strong earnings growth and profitability​.

Additionally, with a price-to-book ratio of 0.54 and a return on equity of 15.5%, the stock seems attractively priced relative to its assets. Analysts estimate a potential upside of over 20%, with a price target of MYR 2.70​.

If you are considering this stock, its valuation metrics and growth potential suggest it may be undervalued, making it an interesting option for investors looking for growth in the Malaysian market.

2.50 UP

Pba see can drop to 2.00

HOW IS THE PROPERTY BUSINESS OF STRAITS TRADING

99 speed mart need to reduce cost vy bringing correct processes to reduce cost if not one day will be replaced.

what worry is the us court....

look like not an easy task. recently the same nearby area also have explosion...

press metal kilang explore

too expensive

BANGKOK: Thailand’s new government will move ahead with plans to introduce casinos after a public hearing showed strong support to create a big entertainment complex offering gambling, a senior official said on Thursday.

BELOW RM2.00

shall be treat as real property gain tax or capital gain...

Memang ada masalah

I think there marketing people got problem. Some of the local supermarket did not have the product at all. only pokka, nestle, wonda, three tea. No power root brand.

Pos malaysia just sell the asset will do

loss teribble.

FV shall be at current level. PBA need to do a lot of replacement of pipe work. so not easy.

no power. wait for below rm1.00

A large payoff if there successful execute the Go car and MUV. With the construction activites is booming, the machinery division shall be doing well.

for indonesia will not easy.

genting business also loss out to illegal gaming and online gaming

In June is 4.69 now is only 4.34

Genting rated sell by icap

WHATEVER UP WILL BE DOWN

ON THE WAY TO HIGHER PRICE....

GENTING INI KALILAH KAU TURUN

Nearby plant exploded just now