KUALA LUMPUR (Aug 7): Shares in MCT Bhd jumped 12.58% this morning after its net profit jumped 69.7% to RM30.71 million in the fourth financial quarter ended June 30, 2018 (4QFY18) from RM18.1 million a year ago, mainly due to a one-off gain on disposal of its subsidiary Ecity Hotel Sdn Bhd.
At 9.31am, MCT rose 9.5 sen to 85 sen with 42,300 shares done.
This resulted in a higher earnings per share of 2.11 sen for 4QFY18, from 1.36 sen for 4QFY17.
Quarterly revenue also rose 9.4% to RM184.63 million, from RM168.78 million in 4QFY17, mainly driven by Lakefront @ Cyberjaya, Skypark @ Cyberjaya and Cybersouth, which have varying stages of completion and take-up rates due to launch schedules.
For the full FY18, MCT said net profit rose 23% to RM78.33 million from RM63.66 million in FY17. Revenue, however, came in 23.6% lower at RM450.3 million compared with RM589.71 million in the previous year.
likely to move higher and higher whether privatisation or resolving public shareholding spread. if decided to resolve public shareholding spread issue, share price will rise further to a higher level, then declare share dividend to make shares available in the hand of retail investors or top 30 shareholders to sell to others.
SINGAPORE (BLOOMBERG) - Ask Nico Purnomo Po about the world-beating stock rally that turned him into Indonesia's latest billionaire, and he'll tell you the market is rewarding his property company's ability to complete big projects in prime locations. "There were concerns before about whether we could execute what we had promised to customers, but we've proven ourselves," Mr Po, 37, the chief operating officer and controlling shareholder of PT Pollux Properti Indonesia, said in an interview. Other market observers aren't so sure. To them, Pollux Properti's more than 500 per cent gain since mid-July looks like the latest example of a thinly traded stock surging way ahead of fundamentals. The rally, by far the biggest among more than 4,700 shares in the Bloomberg World Index, has lifted Pollux Properti's valuation to 34 times net assets, 10 times higher than the industry average in Indonesia. Daily trading in the stock over the period has averaged around US$70,000 (S$95,900), meaning it doesn't take much to boost the price. "The shares have very little liquidity, so the price might not necessarily be a reflection of the company's fundamentals," said Mr John Teja, a director at PT Ciptadana Sekuritas in Jakarta. Mr Christopher Andre Benas, a Jakarta-based analyst who covers the real estate sector at RHB Research Institute, puts it more bluntly: "The valuation doesn't make sense."
HCMC housing prices rise on shortage of new supply Asia News Network | Publication date 16 October 2019 | 22:57 ICT
Share Content image - Phnom Penh Post Ho Chi Minh City suffers from a housing shortage caused by a rapidly rising population and a lack of new projects. VAN CHAU/VIET NAM NEWS Housing prices continue to rise rapidly in Ho Chi Minh City, Vietnam because of a shortage of new supply, increasing population and a lack of transport infrastructure in outlying areas.
It has become very difficult to find apartments for less than two billion dong ($85,500) in the city.
Prices are up five to 10 per cent compared to just six months ago.
At one apartment project in District 1, an 85sqm unit with two bedrooms costs 21 billion dong. Apartments measuring 140-180sqm sell at 47.7-50 billion dong.
A bit further from the city centre, in Thu Duc district, near the Hanoi Highway, apartments in the Tan Hai Minh project was selling at 35-40 million dong last year, but now cost 50-60 million dong per square metre.
Ho Chi Minh City Real Estate Association (HoREA) chairman Le Hoang Chau said housing prices continue to increase because of a lack of new projects and demand far outstripping supply.
Administrative procedures take too much time while transportation between the central and suburban areas is not good, meaning people do not want to stay outside the main areas, he said.
With the government likely to take time to simplify the administrative procedures, developers could now price their projects at whatever level they want, he added.
The rapidly rising population is also a reason for the soaring housing prices.
HoREA pointed out the city’s population increases by one million every five years. The Department of Construction has said 476,000 families lack housing while 21,000 others living along canals and 35,000 living in dilapidated apartments need to relocate.
To resolve the shortage, HoREA has called on authorities to build more housing at reasonable prices for low-income people and simplify administrative procedures for social housing projects, Chau said.
Le Thanh Real Estate Company director Le Huu Nghia said his company submitted a proposal for a social housing project in Binh Chanh district in March, but has not heard back from the Department of Planning and Investment though the project area is earmarked for social housing.
“We recommend that the government speed up and simplify administrative procedures and draft new policies to encourage investment in social housing.”
Viet An Real Estate Company director-general Tran Khanh Quang said the government should also create support policies for first-time buyers of housing. This would also preclude the purchase of social housing as an investment, he added.
Chau said HoREA has called for upgrading traffic infrastructure to link the five suburban districts of Cu Chi, Can Gio, Binh Chanh, Hoc Mon, and Nha Be with the city’s central areas so that they become more attractive as residential areas.
believe goh will let go his remaining stake to Ayala
According to MCT's 2018 annual report, Goh was appointed to the board as non-independent executive deputy chairman on April 1, 2015, before being redesignated as non-independent non-executive director on Nov 30, 2016.
His direct stake in the company has been pared down from 10.46% as at April 4 last year to 5.86% as at April 4 this year.
MCT shares slipped 0.5 sen or 1.09% today to close at 45.5 sen, giving it a market capitalisation of RM662.93 million. The stock has fallen 48% from a year ago.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Good123
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Posted by Good123 > 2019-10-18 14:19 | Report Abuse
aiyoh dividend was 2.8sen in 2015 not 2sen haha