FOCUS OF THE DAY
Property Watch : ViiA Residences, KL Eco City
ViiA Residences are serviced apartments located in the same tower together with a 4-star business hotel, within KL Eco City, an integrated development by S P Setia, anchored by Grade-A office towers. The office population translates to a captive rental market for the serviced apartments. The property offers a vibrant city lifestyle (shopping, dining and entertainment) with its close proximity to Mid Valley City and The Gardens, coupled with accessibility to public transport.
ViiA Residences’ high take-up rate tells us that there could be bright spots in the hardest hit high-end, high-rise residential segment. For ViiA Residences, we believe the key success factors are location, a captive rental market and the 10:90 payment scheme. A good telltale sign of buyers investing in ViiA Residences for rental yield, is that the mid-tier 2-bedroom units have been a sellout, while the studio or 3-bedroom units are still available.
Others :
IJM Corp : Awarded RM392mil HSBC tower job at TRX BUY
Gent Singapore : Granting credit again to grow revenue HOLD
STOCKS ON RADAR
Formosa Prosonic,Three-A Resources, Lion Forest, Malaysia Steel Works
ECONOMIC HIGHLIGHT
Indonesia : GDP grows below expectation
NEWS HIGHLIGHTS
Construction Sector : MRT Corp invites bids to build and finance MRT3
Eversendai : Sees Saudi Aramco project as stepping stone
Genting Bhd : Lim Kok Thay asserts major shareholding
MBSB : To acquire Asian Finance Bank for RM645mil
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The information and opinions in this report were prepared by AmInvestment Bank Bhd. The investments discussed or recommended in this report may not be suitable for all investors. This report has been prepared for information purposes only and is not an offer to sell or a solicitation to buy any securities. The directors and employees of AmInvestment Bank Bhd. Bhd may from time to time have a position in or with the securities mentioned herein. Members of the AmBank Group Bhd and their affiliates may provide services to any company and affiliates of such companies whose securities are mentioned herein. The information herein was obtained or derived from sources that we believe are reliable, but while all reasonable care has been taken to ensure that stated facts are accurate and opinions fair and reasonable, we do not represent that it is accurate or complete and it should not be relied upon as such. No liability can be accepted for any loss that may arise from the use of this report. All opinions and estimates included in this report constitute our judgment as of this date and are subject to change without notice.
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