MIDF Research raised its target price for Pavilion-REIT to RM1.63 per unit from RM1.56 previously with an estimated net distribution yield of 5.7%.
PETALING JAYA: The prospects of positive rental reversion, lower maintenance charges, higher tourist numbers and earnings from the acquisition of Pavilion Bukit Jalil will help drive up earnings for Pavilion Real Estate Investment Trust (Pavilion-REIT) in financial year 2023 (FY23).
The REIT’s distribution per unit (DPU) of 4.29 sen announced for the fourth quarter ended Dec 31, 2022 (4Q22) took its total DPU to 8.37 sen in FY22 and translated into a gross yield of 6.2%. Driven by the prospect of further gain in FY23, research houses have revised their estimates for the REIT.
“We revise our FY23 core net earnings and earnings per unit forecast by up 40% and 4.7% respectively, after factoring in the lower maintenance expenses and contribution from Pavilion Bukit Jalil as well as its placement exercise,” said MIDF Research in a report yesterday.
MIDF Research raised its target price (TP) for Pavilion-REIT to RM1.63 per unit from RM1.56 previously with an estimated net distribution yield of 5.7%.
“Higher tourist arrivals particularly from China are expected to increase shopper footfall and improve tenant sales at Pavilion KL Mall and Elite Pavilion Mall. Hence, we maintain our ‘buy’ call on Pavilion-REIT,” MIDF added.
Pavilion-REIT announced a strong 4Q22, posting a core net income of RM65mil which was 20% higher year-on-year (y-o-y) and 6.3% quarter-on-quarter (q-o-q), mainly due to lower maintenance expenses, which fell 26% q-o-q.
Its total FY22 core net income grew by 95.8% y-o-y to RM246.4mil, on the back of a recovery in rental income from its shopping malls following the reopening of the economy and international borders.
Net property income for its care asset, Pavilion KL Mall (PKL) jumped to RM233.2mil or up 62.9% y-o-y in FY22 while the NPI for its Elite Pavilion Mall surged 234% y-o-y to RM30.3mil, as footfall numbers recovered further supported by higher tourist arrivals.
RHB Research also maintained its “buy” call on the trust, with a revised TP of RM1.57 per unit (from RM1.52 previously) on the expectations higher footfall and tourist numbers will help ensure its flagship mall remains well tenanted and enjoy rental reversion in the range of 5% to 6% in FY23.
“Management guided that 30% of PKL’s footfall pre-pandemic came from foreign tourists, with roughly 50% of that group coming from China.
“With the REIT already reporting normalised earnings without China tourists in FY22, the opening of the country’s borders is expected to provide another boost in the upcoming year,” RHB Research said.
The research house adjusted Pavilion-REIT’s FY23-FY24 earnings by 4% to 6% and introduced its FY25 net profit forecast of RM382mil for the trust.
Juga dah ambil tanah yayasan veteran atm di pusat KL
Pasukhas via its JV has kicked start its maiden development project located off Jalan Tun Razak, Kuala Lumpur. The project has an estimated gross development value of MYR338m with an estimated gross development profit of MYR81m.
S&P 500 surges to end at over five-month high, Nasdaq closes up 3.3% as Meta leads rally in tech sector stocks.
Last Updated: Feb. 2, 2023 at 4:29 p.m. ET
U.S. stocks ended mostly higher on Thursday after the Nasdaq Composite and the S&P 500 index surged to their highest levels in about five months, buoyed by upbeat earnings from Facebook parent Meta Platforms and dovish remarks from Federal Reserve chair Jerome Powell on Wednesday.
KUALA LUMPUR (Feb 3): Former Armed Forces Fund Board (LTAT) chairman Tan Sri Mohd Anwar Mohd Nor has been appointed chairman of Country Heights Holdings Bhd with immediate effect, succeeding tycoon Tan Sri Lee Kim Yew.
According to Country Heights' Bursa Malaysia filings, Lee has resigned to cater to a change of management for the group’s transformation. He currently holds a 26.21% direct stake and 31.43% indirect stake in the property developer.
Lee was first appointed to Country Heights’ board in October 1986. He was designated as the group’s chairman in June 2016, and subsequently redesignated as executive chairman in October 2016.
Mohd Anwar was chairman of LTAT for 11 years and chairman of Titijaya Land Bhd for nine years.
Country Heights, meanwhile, also announced that it has redesignated its executive director Dr Yip Chun Mun as deputy managing director.
The group also appointed several new directors to its board: executive directors Xiong Wei, Chua Hee Boon, and Chuah Tian Pong, and independent and non-executive directors Tan Meng Khong and Chuah Peng San.
Country Heights, which has risen 32% year to date, settled at 50 sen on Friday, giving it a market capitalisation of RM148.99 million.
Lambo macam 1MDB, tak pernah cadangkan apa2... Yang pasti, usah beli syer lambo sampai kiamat. Mungkin pengarah2 lambo akan berada dalam jel bersama najib tak lama lagi, faham? Hahahaha
@nightmare007
@Good123
Sila jawap tentang Lambo kesayangan kamu...jangan diamkan diri :))))) kekekkeke
Aku tak pernah memuji lambo... Lambo dah mau mampus... Usah sentuh... Faham? :) Aku benci lambo, tahu?
KUALA LUMPUR: Lambo Group Bhd kini disenaraikan di bawah status Nota Panduan No 3 (GN3) selepas mencetuskan kriteria Nota Amalan 2.1(f) GN3 Keperluan Penyenaraian Pasaran ACE Bursa Securities (Keperluan Penyenaraian Pasaran ACE), kata Bursa Malaysia Securities Bhd (Bursa Securities).
"Bursa Securities ingin menegaskan bahawa ia akan terus memantau perkembangan Lambo dari segi pematuhannya terhadap Keperluan Penyenaraian Pasaran Utama," katanya dalam kenyataan hari ini.
Peraturan 2.1 (f) GN3 itu dicetuskan apabila juruaudit menyatakan pandangan sebaliknya atau penafian dalam penyata kewangan terkini syarikat tersenarai yang diaudit.
Setakat 2 Februari 2023, sebanyak 28 syarikat tersenarai di bawah status PN17 dan GN3 iaitu 2.94 peratus daripada keseluruhan 951 syarikat yang tersenarai di Pasaran Utama dan ACE Bursa Securities.
-BERNAMA
@nightmare007
@good123
You punya lambo apa cerita sudah GN3 ka? dulu hari-hari promote...skrg sudah hari-hari kencam ke? kekekekekekekee
“The scrutiny is real. We have been getting a lot of questions from investors, financiers and other stakeholders on various environmental, social and governance (ESG) issues, but specifically on our climate strategy,” says Yinson CEO Lim.
THE energy sector faces intense pressure to drive the transition to a low-carbon economy. As a source of around three-quarters of global emissions, the energy sector has a hard road ahead to achieve global and national climate targets.
“The scrutiny is real. We have been getting a lot of questions from investors, financiers and other stakeholders on various environmental, social and governance (ESG) issues, but specifically on our climate strategy,” shares Lim Chern Yuan, CEO of Yinson Holdings Bhd.
At current price, the stock is trading at a PB of 0.2x (as at Sep 2022), which is lower than its 3-year historical average PB of 0.5x. Balance sheet wise, its net gearing stood at 0.02x (including money market instruments) at end-Sep 2022.
Pasukhas via its JV has kicked start its maiden development project located off Jalan Tun Razak, Kuala Lumpur. The project has an estimated gross development value of MYR338m with an estimated gross development profit of MYR81m.
A silver lining is that Pasukhas has an energy utilities services and power generation unit, which provides a long-term recurring income stream. Currently, it owns and operates a mini hydro plant at Sungai Rek, Kelantan over a 21-year lease period. This segment contributed 24% to 9M22 EBIT.
SINGAPORE (Feb 7): AirAsia plans to take on lease 15 additional aircraft to meet travel demand from China now that it has reopened its borders, the CEO of the budget carrier's parent company Capital A Bhd said.
"We are so bullish on growth that we're in negotiations now to sign 15 new aircraft from lessors," Tan Sri Tony Fernandes told Reuters on the sidelines of an event. "The fact that we are talking about new planes means things are coming back."
Fernandes said that Capital A now has three tailwinds: strengthening Asian currencies, prices of oil falling from their peaks, and China's reopening.
"The uncertainty of routes have now gone with China opening.... And there's a clear path to normalcy, to 2019 pre-Covid," Fernandes said.
The 15 aircraft are on top of the 326 planes already on the company's order book until 2030. Currently, AirAsia has 150 planes in the air and expects to put all 204 of its fleet back in service by August.
Fernandes said the company was on track to complete restructuring efforts and resolve its PN17, or 'Practice Note 17', status by August. The restructuring will combine AirAsia budget airline business with AirAsia X and take the aviation business out of Capital A.
Fernandes said this could kickstart Capital A splitting the other businesses — logistics, aviation services and digital arms — into separate listings.
Capital A was in January 2022 classified as a PN17 company by the Malaysian bourse, a tag given to financially distressed firms which can be de-listed if they fail to regularise their finances within a set time frame.
"The plan is there," Fernandes said. "I'm not sure Capital A exists in the future in its present form."
Capital A reported a narrower third-quarter operating loss last year compared to 2021 as travel demand returned.
Capital A shares have risen 17% since the start of the year, outperforming rivals such as Singapore Airlines with gains of 7%, and Cathay Pacific Airways, which has fallen 9%.
SINGAPURA: AirAsia merancang untuk memajak 15 pesawat tambahan bagi memenuhi permintaan perjalanan dari China ketika ini setelah ia membuka semula sempadannya, kata Tan Sri Tony Fernandes.
"Kami sangat yakin dengan pertumbuhan sehingga kami kini dalam rundingan untuk menandatangani 15 pesawat baharu daripada pemajak," kata Ketua Pegawai Eksekutif Capital A Bhd itu kepada Reuters di luar acara.
Capital A adalah syarikat induk kepada syarikat penerbangan tambang rendah itu.
"Hakikat bahawa kita bercakap mengenai pesawat baharu bermakna perkara itu (permintaan) akan kembali."
Tony berkata, Capital A kini mempunyai tiga sokongan iaitu pengukuhan mata wang Asia, harga minyak jatuh dari puncaknya dan pembukaan semula China.
"Ketidakpastian laluan kini hilang dengan pembukaan China.... Dan terdapat laluan yang jelas ke arah normal, ke pra-COVID-19 pada 2019," kata Tony.
15 pesawat itu adalah tambahan kepada 326 pesawat yang sudah ada dalam senarai tempahan syarikat sehingga 2030.
Pada masa ini, AirAsia mempunyai 150 pesawat di udara dan menjangkakan untuk menggunakan semua 204 pesawatnya kembali ke dalam perkhidmatan menjelang Ogos.
Tony berkata, syarikat itu berada di landasan untuk menyelesaikan usaha penstrukturan semula dan menyelesaikan status PN17, atau 'Nota Amalan 17', menjelang Ogos.
Penstrukturan semula itu akan menggabungkan perniagaan penerbangan bajet AirAsia dengan AirAsia X dan mengeluarkan perniagaan penerbangan daripada Capital A.
Tony berkata, ini boleh menjadi permulaan kepada Capital A untuk memisahkan perniagaan lain - logistik, perkhidmatan penerbangan dan cabang digital - kepada penyenaraian berasingan.
Capital A pada Januari 2022 diklasifikasikan sebagai syarikat PN17 oleh Bursa Malaysia, status yang diberikan kepada firma yang bermasalah kewangan yang boleh dinyahsenarai jika mereka gagal mengatur kewangan mereka dalam jangka masa yang ditetapkan.
"Rancangan sudah ada," kata Tony.
"Saya tidak pasti sama ada Capital A akan wujud pada masa hadapan dalam bentuknya sekarang."
- Reuters
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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
26,600 posts
Posted by Good123 > 2023-02-03 09:23 | Report Abuse
52 minggu je... Sabar ya