Investment unit to drive IOIProp earnings

’s property investment unit is expected to be the company’s key earnings driver over the medium term, say analysts.

“Top line for its property investment division continued to grow – driven mainly by IOI City Mall Phase 2. The group registered RM443mil of new property sales in 3Q23 compared with RM478mil in 2Q23. Local projects contributed 83% of sales while China and Singapore made up the remainder. RHB Research said IOIProp will focus on clearing its unsold inventory of RM1.16bil over the next two to three years, leading to minimal upcoming launches in China.

The research house said the property investment division and hospitality and leisure segments were the main propeller for the group’s marginal earnings growth in the nine months of the financial year 2023 . “We see the outlook for IOIProp to be stable due to recovery of property investment and hospitality and leisure segments which will be driven by reopening of economy and higher tourist arrival.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Singapore’s Temasek cuts staff compensation over FTX investmentSINGAPORE, May 29 — Singapore state investment fund Temasek said today it had slashed compensation for the team and senior management responsible for its investment in collapsed...
La source: malaymail - 🏆 1. / 86 Lire la suite »

Soccer-Manchester United boss Ten Hag calls for more investment(Reuters) - Manchester United manager Erik ten Hag has called for more investment in the club so they can challenge for trophies after the team finished third in the Premier League this season.
La source: staronline - 🏆 4. / 75 Lire la suite »

Singapore’s Temasek cuts staff compensation over FTX investment | The Malaysian InsightSingapore’s Temasek cuts staff compensation over FTX investment
La source: msianinsight - 🏆 8. / 63 Lire la suite »

Senior schemer: Woman, 60, nabbed over alleged investment scamKUALA LUMPUR: A senior citizen has been arrested for being the alleged mastermind of a bogus investment scheme.
La source: staronline - 🏆 4. / 75 Lire la suite »