Boustead Joins Ikano For Cheras Shopping Mall
Boustead Holdings and Ikano will open their second shopping mall together at Jalan Cochrane, Cheras. MyTOWN Shopping Centre will have a Parkson department store, five floors of retail space, a landscaped park and garden outside and event spaces.
The retail portion has a gross development value (GDV) of approximately RM2 billion while the residential portion, three blocks above the mall has a GDV of RM1 billion.
Ikea and Parkson will be the anchor tenants. Construction is under way and is expected to be completed by 4Q16.
Significance: Boustead owns 50 acres of land in the Cochrane area which it is planning to develop. Boustead is also developing a residential tower and office towers that are separate projects from the MyTOWN development.
Dialog Sees 65 Percent Jump In Net Profit
Dialog Group registered a 65.2 percent rise in net profit to RM81.9 million for 3Q15, driven by higher revenue and operating income and lower expenses.
For 9M15, Dialog’s net profit jumped 29.3 percent to RM211.5 million from RM163.6 million in 9M14. However, revenue fell 6.6 percent to RM1.8 billion from RM1.9 billion in 9M14.
Malaysia operations achieved better results when compared with the same periods last year, following contributions from the upstream activities mainly as a result of the operation of the production-sharing contract for three fields offshore Sarawak.
Significance: Dialog remains confident of delivering a healthy performance for the financial year ending 30 June 2015.
Matrix Concepts Hits RM115m For Net Profit
Matrix Concepts Holdings‘ net profit surged nearly 200 percent to RM115.4 million in 1Q15. Revenue also rose 135.8 percent to RM317.6 million, underpinned by higher revenue for residential and industrial properties.
The group believes that it was a bumper quarter due to quicker construction progress of its on-going residential projects in Bandar Sri Sendayan as well as accelerated payments by investors for industrial properties at Sendayan TechValley.
The company targets for investment properties to contribute 10 percent to the group revenue in the next five years while noting revenue contribution of RM2.2 million from investment properties, comprising Matrix Global Schools and d’Tempat Country Club.
Significance: Demand for residential properties is expected to remain intact due to the population growth of Negeri Sembilan while Kuala Lumpur residents were buying properties in Klang Valley region. The group’s unbilled sales of RM392 million can last the group until 2017 as at 31 March 2015.
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