UEM Land is a strong candidate for inclusion as an index component of the FBM KLCI being the largest property stock on Bursa Malaysia by market capitalisation and landbank size now.
Despite the company's rather premium valuation against its peers, the stock's potential inclusion into the barometer and positive news flow from Iskandar region would give the boost for an upward rerating.
The acquisition of Sunrise which was completed in February 2011, boosted UEM Land's market capitalisation to about RM11 billion.
Once included as one of the index components, it will be the only pure property stock in the index.
It will raise the company''s profile and visibility, and subsequently justify its premium valuation given that the FBM KLCI top 30 stocks are typically used as a benchmark portfolio.
UEM Land is the flagship company for the real estate investment and development businesses of UEM Group, which is a wholly-owned by Khazanah Nasional, the government's investment holding company.
UEM Land was a good proxy to the government's strategy to propel the domestic economy towards high income status, particularly under the Economic Transformation Programme.
Due to its size and the growth prospects, the company's liquidity was the highest among the listed property stocks as foreign and local institutional interest on the stock had picked up.
Showing posts with label UEM Land. Show all posts
Showing posts with label UEM Land. Show all posts
Saturday, October 22, 2011
Tuesday, September 27, 2011
UEM Land/Jetson/Bolton… dated April 2011
What’s Up? … dated April 2011
Three foreign players among the 10 companies are short listed by the master developer
UDA for the JV deals for the redevelopment of the Pudu Jail site in KL.
It is learn that Dubai based Dama Group is proposing to team up with UEM Land , while the state owned China State Construction Engineering Corp has tied up with Kumpulan Jetson.
Singapore’s Keppel Land Ltd is also said to have submitted proposals for the integrated mixed development project, tentatively named the Bukit Bintang Commercial Centre. Sources say UDA has also short listed seven local companies – Bolton Bhd, Bina Puri, IJM Land, MRCB, Sunway Group, YTL Land and the Naza Group.
Front runners for the JV opportunities in BBCC are said to be Bolton and the UEM Land-Damac and Jetson-China Construction JVs.
The 20ha tract for BBC will be divided into six plots, and will be built in phases over 10 years.
UDA chairman Datuk Nut Jazlan said that the winners of the JV bids will be announced by end March 2011 after each company presents its proposals to UDA’s board on Feb 2011.
The development of BBCC could see the JC partners jointly develop portions of the project or construct buildings on various plots. This means that jobs could be given to several parties among those shorlisted.
Three foreign players among the 10 companies are short listed by the master developer
UDA for the JV deals for the redevelopment of the Pudu Jail site in KL.
It is learn that Dubai based Dama Group is proposing to team up with UEM Land , while the state owned China State Construction Engineering Corp has tied up with Kumpulan Jetson.
Singapore’s Keppel Land Ltd is also said to have submitted proposals for the integrated mixed development project, tentatively named the Bukit Bintang Commercial Centre. Sources say UDA has also short listed seven local companies – Bolton Bhd, Bina Puri, IJM Land, MRCB, Sunway Group, YTL Land and the Naza Group.
Front runners for the JV opportunities in BBCC are said to be Bolton and the UEM Land-Damac and Jetson-China Construction JVs.
The 20ha tract for BBC will be divided into six plots, and will be built in phases over 10 years.
UDA chairman Datuk Nut Jazlan said that the winners of the JV bids will be announced by end March 2011 after each company presents its proposals to UDA’s board on Feb 2011.
The development of BBCC could see the JC partners jointly develop portions of the project or construct buildings on various plots. This means that jobs could be given to several parties among those shorlisted.
Saturday, August 6, 2011
JIT News - UEM L/Mulpha/Tebrau,SP Setia,Hubline,Suria C,TC, MasterSkill.. 14/1/2011
UEM Land Bhd, Tebrau Teguh Bhd and Mulpha International Bhd are among Malaysian property companies that will benefit from a “re-pricing” of the land and property values in the southern Johor state. The re-rating of the Johor property play started following the negotiation of the land swap deal between Singapore and Malaysia . The re-rating process was further accelerated by the introduction of the Government’s economic transformation program.
SP Setia: Sources say SP Setia is likely to get a 30-year concession to build and operate the Penang International Convention Centre It has emerged as the leading contender to build the Penang International Convention Centre (PICC) on the grounds of the Penang International Sports Arena ( Pisa ).
Hubline: RAM Rating Services Bhd has reaffirmed the ratings of Hubline’s RM220 million debt notes but revised the outlook on the long-term ratings from stable to negative.The outlook may be revised to stable if Hubline is able to demonstrate sustainable improvement in its financial profile on the back of improved cargo volumes for its dry-bulk shipping services and its ability to command better freight rates for its niche routes. On the other hand, Hubline’s ratings could be downgraded if it experiences prolonged deterioration in its financial metrics.
Suria Capital: It and its partners have secured a RM1 billion contract to build a 300MW power plant in Kimanis, Sabah . Its unit SCHB Engineering Services Sdn Bhd and its partners CTCI Corporation, CTCI Overseas Corporation Ltd, CTCI Malaysia Sdn Bhd and Steamline ( Malaysia ) Sdn Bhd were awarded the contract by Kimanis Power Sdn Bhd.
The contract is expected to contribute positively to the earnings of SCHB Engineering for the financial year ending Dec 31, 2011. The contract does not have any material effect on the net assets per share, share capital and substantial shareholders' shareholding of Suria Capital.
SP Setia: Sources say SP Setia is likely to get a 30-year concession to build and operate the Penang International Convention Centre It has emerged as the leading contender to build the Penang International Convention Centre (PICC) on the grounds of the Penang International Sports Arena ( Pisa ).
Hubline: RAM Rating Services Bhd has reaffirmed the ratings of Hubline’s RM220 million debt notes but revised the outlook on the long-term ratings from stable to negative.The outlook may be revised to stable if Hubline is able to demonstrate sustainable improvement in its financial profile on the back of improved cargo volumes for its dry-bulk shipping services and its ability to command better freight rates for its niche routes. On the other hand, Hubline’s ratings could be downgraded if it experiences prolonged deterioration in its financial metrics.
Suria Capital: It and its partners have secured a RM1 billion contract to build a 300MW power plant in Kimanis, Sabah . Its unit SCHB Engineering Services Sdn Bhd and its partners CTCI Corporation, CTCI Overseas Corporation Ltd, CTCI Malaysia Sdn Bhd and Steamline ( Malaysia ) Sdn Bhd were awarded the contract by Kimanis Power Sdn Bhd.
The contract is expected to contribute positively to the earnings of SCHB Engineering for the financial year ending Dec 31, 2011. The contract does not have any material effect on the net assets per share, share capital and substantial shareholders' shareholding of Suria Capital.
Tan Chong Motor: It saw 4.75 million shares transacted in several off-market deals at an average price of RM5.35 apiece.
Masterskill: FMR LLC and FIL Ltd sold more shares disposed of 2.42 million shares on Jan 6 2011 and 1.33 million shares on Jan 7, 2011, reducing its shareholding to 29.74 million shares or 7.26%.
Masterskill: FMR LLC and FIL Ltd sold more shares disposed of 2.42 million shares on Jan 6 2011 and 1.33 million shares on Jan 7, 2011, reducing its shareholding to 29.74 million shares or 7.26%.
JIT News - Ramunia,UEM Land,Key West,TimeDotCom KPS/Puncak Niaga..7/1/2011
Ramunia: Sources say it is without a core business, is in talks to acquire Syarikat Borcos Shipping Sdn Bhd. It is said the negotiations have commenced, but it is not known how the acquisition will be concluded – via cash, shares or both. LTH is presently the largest shareholder of Borcos Shipping, holding 84% stake while other shareholders are AWH Equity Holdings Sdn Bhd which has 9% stake, Dayang Enterprise holds 6% and Vida Partners holds 0.8% stake. LTH holds 25.17% stake in Ramunia.
UEM Land : Credit Suisse expected UEM Land to become a blue c hip proxy for improved Singapore Malaysia relations, especially under the proposed transformation of its large landbank in Iskandar Malaysia . It had issued 217.049 million shares and 808.4656 million RCPS as the first batch of settlement for the Sunrise shares which it had acquired under the conditional takeover. These shares would be listed and quoted 07 Jan 2011 whilst the RCPS would not listed on any stock exchange. Some of the most conservative fund managers who currently would not consider owning UEM Land will, this time in 2012, have the stock as core holding. Tong was now heavily incentivized to deliver a turnaround at UEM Land . The market will upgrade its earnings forecasts as Tong delivers real property sales from his strategy. This will serve to enhance the credibility of RNACs.
Key West: It has seen the emergence of a new shareholder in Goh Mei Yuin, who acquired 9.13% stake in Key West . He is likely to purchased the share from its former controlling shareholders, the Yong family. Goh has also emerged as the largest shareholder in Baswell Resources Bhd in Sept 2010 with 14.9% stake. Goh as also XiDelang’s top 30 shareholders as at May 10 2010 with 0.39% stake. For the cumulative nine month period, Key West ’s net loss shrank to rm2 million from rm2.28 million. Its net assets per share for 9MFY2011 stood at 4 sen. It propsed a private placement in Nov 2010 to raise rm1.89 million. However three directors dispose their stakes a few days later. Two new independent directors were appointed and one of them also sits on the board of Baswell Resources as its senior independence non executive director. He (Dr Lai Chee Chuen) is also a former CRO of Seloga. Seloga is also in the midst of board room tussle.
TimeDotCom: KWAP disposed of 4.81 million shares of TimeDotComTIME on Dec 29 2010 and 30 2010 in the open market when the share price rallied following fresh corporate developments including its tie-up with Digi.com and Astro. KWAP sold two million Time dotCom shares on Dec 29, 2010 and 2.81 million shares the next day. The share price closed at 75.5 sen amd 77 sen. The disposals reduced KWAP’s shareholding to 7.62% or 192.83 million shares.
UEM Land : Credit Suisse expected UEM Land to become a blue c hip proxy for improved Singapore Malaysia relations, especially under the proposed transformation of its large landbank in Iskandar Malaysia . It had issued 217.049 million shares and 808.4656 million RCPS as the first batch of settlement for the Sunrise shares which it had acquired under the conditional takeover. These shares would be listed and quoted 07 Jan 2011 whilst the RCPS would not listed on any stock exchange. Some of the most conservative fund managers who currently would not consider owning UEM Land will, this time in 2012, have the stock as core holding. Tong was now heavily incentivized to deliver a turnaround at UEM Land . The market will upgrade its earnings forecasts as Tong delivers real property sales from his strategy. This will serve to enhance the credibility of RNACs.
Key West: It has seen the emergence of a new shareholder in Goh Mei Yuin, who acquired 9.13% stake in Key West . He is likely to purchased the share from its former controlling shareholders, the Yong family. Goh has also emerged as the largest shareholder in Baswell Resources Bhd in Sept 2010 with 14.9% stake. Goh as also XiDelang’s top 30 shareholders as at May 10 2010 with 0.39% stake. For the cumulative nine month period, Key West ’s net loss shrank to rm2 million from rm2.28 million. Its net assets per share for 9MFY2011 stood at 4 sen. It propsed a private placement in Nov 2010 to raise rm1.89 million. However three directors dispose their stakes a few days later. Two new independent directors were appointed and one of them also sits on the board of Baswell Resources as its senior independence non executive director. He (Dr Lai Chee Chuen) is also a former CRO of Seloga. Seloga is also in the midst of board room tussle.
TimeDotCom: KWAP disposed of 4.81 million shares of TimeDotComTIME on Dec 29 2010 and 30 2010 in the open market when the share price rallied following fresh corporate developments including its tie-up with Digi.com and Astro. KWAP sold two million Time dotCom shares on Dec 29, 2010 and 2.81 million shares the next day. The share price closed at 75.5 sen amd 77 sen. The disposals reduced KWAP’s shareholding to 7.62% or 192.83 million shares.
KPS/KHSB/Puncak Niaga/JAKS: Selangor today announced a new offer to the four water concessionaires in the state, Puncak Niaga (M) Sdn Bhd (PNSB), Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), Konsortium Abass Sdn Bhd and Syarikat Pengeluar Air Selangor Sdn Bhd (Splash). The state government has offered to takeover 100 per cent of their shares at a price of RM64.62 for PNSB, RM20.78 for Syabas, RM5.95 for Splash and RM9.39 for Abass.
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