KUALA LUMPUR (Reuters) - Malaysian conglomerate DRB-Hicom Bhd said on Thursday it was selling much of its non-industrial property assets and the entire hospitality portfolio for a total of 1.9 billion ringgit ($486.31 million).

The company, majority owned by Malaysian billionaire Syed Mokhtar al-Bukhary, said it will dispose of several subsidiaries owning a total of about 2,200 acres of land along with the hospitality portfolio to Prisma Dimensi Sdn Bhd (PDSB).

PDSB is a private property developer that is also owned by Syed Mokhtar.

comment: see who is making the moves!!! Beware long term investors!!!

according to the Edge Financial today:

"The list of real estate — includ-
ing 2,268.43 acres (918ha) of land
together with buildings erected on
them located in Shah Alam, Klang,
Puchong, Jalan Tun Razak, Batu
Caves, Johor Baru and Terengganu
to be disposed of by the diversified
conglomerate — are collectively
valued at RM1.93 billion, com-
pared with the total market value
of RM1.43 billion.
In return, DRB-Hicom will obtain
1,243.45 acres of freehold industrial
land in Tebrau, Johor, according"

my comment: prime, premium real estate being exchanged with industrial land...the striping of assets in DRBHicom has started...long term investors beware!!!!!!

...rising ringgit might eat into it's export margin...

https://oilprice.com/Energy/Crude-Oil/70-Oil-Cripples-European-Refiners.html

I think rising crude oil prices will force our Gov to reintroduce subsidies for petrol prices, reducing the profit margin for refineries.

this is a punter"s stock!! when it will go up or down is anybody's guess. It has good fundamentals but it will take some time for its assets to be monetized. Before that time comes, it will be pushed up and down thro' many cycles!! Current qtr is no good as far as its core property business is concerned. It is loss. Its gain is only due to a one time gain in asset sales!!

Hektar has done remarkably well 2nd qtr compared with other retail reits. It's realised EPS is 2.59 sens and unreliased portion is 0.03 sens. Realised earning means actual profit revenue from rentals. Dividend for 5mths at 4 sens means an annualized rate 7.38% returns based on a share price of RM1.30. Hektar has always paid dividends less than their EPS, meaning these dividends are paid from their profits and not from their reserves or borrowings. This means their dividends are sustainable.

i checked thro' all the quarters back until year 2012 and found L&G has always produced positive earnings. Looks like the current earning release is their first quarterly loss in many years!!! Very, very disappointing!!!

Rhbcap has been removed from my CDS account. Is this normal while waiting for Rhbbank shares to be credited to my CDS account? Can anyone pls enlighten me on this?

the best that can happen to proton is for Dr M to step down and Syed Mokhtar Al-Bukhary to be given a free hand to make pure commercial decisions on behalf of proton and DRBHicom.

proton has historically failed in all the export markets!!