Ringgit surged against the whole world currencies, USD/MYR hit 4.08 the strongest level in the past 12 mths. The wakening bull start bellowing through Bursa Malaysia, foreign capital is back to strut the market.
PETALING JAYA: There were more interest in property purchases for the first 10 months of this year compared to 2016 based on the latest Bank Negara statistics, said a research house.
MIDF Research said in a report it is maintaining a positive stance on the property sector based on loan statistic from Bank Negara and a stable House Price Index outlook from the National Property Information Centre (Napic).
It also viewed certain property counters with Klang Valley projects positively.
The report said total applied loans for property purchases in October increased 17.6% year-on-year (y-o-y) to RM29.6bil. On a 10-month basis, it grew 13% y-o-y to RM275bil.
Total approved loans for property purchases also grew y-o-y. Over a 10-month period this year, cumulative total approved loans totalled RM111bil, an increase of 11%.
MIDF said: “The higher approved loans disbursed into the market is a good leading indicator that property sales... as a whole should improve compared to last year.”
The report said Selangor saw the highest expansion in house prices, notching a growth of 8.4% y-o-y. Negri Sembilan saw a y-o-y increase of 7.6%. Both Kuala Lumpur and Johor saw y-o-y growth of 6.7%.
This, said MIDF, showed that the outlook for property price growth in greater Kuala Lumpur, which comprises both Kuala Lumpur and Selangor, remained “positive”.
Quoting Napic, MIDF said preliminary reading of the House Price Index for the third quarter of 2017 is 187.6, representing a growth of 5.1% compared to second quarter reading of 186.3 (6.8% growth), and 6.7% in the first quarter of 2017.
“The growth, although decelerating, shows that house price increase in Malaysia remains in positive territory,” MIDF said.
It liked SP Setia for its plan to achieve FBM KLCI status by 2018, its attractive price for the I&P deal and for its good dividend yield.
SP Setia will be reviewing its operations over the next few months following its purchase of sister company I&P Group Sdn Bhd from Permodalan Nasional Bhd (PNB). Launches are being planned in late 2018 and from 2019 onwards post-review process.
Both SP Setia and I&P form part of PNB’s property portfolio. PNB portfolio of companies are involved in different sectors of the economy.
The purchase enabled SP Setia to increase its total land bank by almost 80% to nearly 9,730 acres and fast-track its expansion plans. SP Setia bought the sister company for RM3.65bil.
The I&P group, a township developer, has land bank of about 4,276 acres located in the central part of Klang Valley and Johor Baru.
It also liked Mah Sing for its mass-market projects in the Klang Valley and UOA for its healthy balance sheet at net cash position, with sales prospect underpinned by urban-based affordable housing.
Posted by sengkee > Jan 25, 2018 10:49 AM | Report Abuse Someone is quietly collect at 0.14/0.145 as the private placement shares listed in June 2017 was 0.153.
Hope psiptek can make another gap up in order to satisfy the punters to make the last few cts before going for corrections. It has gone up fr 13~17c and closing16.5c.The up percentage was fr 21-23.5%. Will it make another gap up fr 10-20%? I think many are looking forward for the push. If instead of going up but going south , there are sure many will be at stake. Good luck to all. 24/02/2018 16:26
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....
stncws
10,704 posts
Posted by stncws > 2017-11-29 15:12 | Report Abuse
16c to 18c to match foo price