Latest news with #GamudaBhd
Malaysian Reserve
2 days ago
- Business
- Malaysian Reserve
Public Bank, Gamuda top foreign investor net outflow list
FOREIGN investors continued their streak of net outflows on Bursa Malaysia, extending it to a three-week selling trend, with Public Bank Bhd, Gamuda Bhd and KPJ Healthcare Bhd topping the list. The foreign investors recorded a net outflow of RM387.4 million, smaller than the previous week's outflow of RM1.02 billion, according to a report released by MIDF Research today. On the flip side, the counters that were net bought by foreign investors for the week ended June 6 were Sunway Construction Group Bhd, CIMB Group Holdings Bhd and My EG Services Bhd. –TMR
New Straits Times
19-05-2025
- Business
- New Straits Times
Gamuda set for margin uplift with RM2.2bil Gamuda Cove expansion
KUALA LUMPUR: Gamuda Bhd's expansion of the Gamuda Cove development is expected to yield higher pre-tax margins than currently projected for the existing township, said CIMB Securities Sdn Bhd. This is thanks to the substantial placemaking efforts and surrounding infrastructure already established in the area. Last Friday, Gamuda announced that it has acquired 136-hectare land at the southern tip of Gamuda Cove township for RM249 million that will be developed into a mixed-use project comprising landed residential homes and commercial components. The proposed development on the 74-year leasehold land has an estimated gross development value (GDV) of RM2.2 billion that is spread out over 12 years. At RM17 per square foot (psf), CIMB Securities said the acquisition cost for the new land bank represents a 42 per cent premium over the original cost for the original Gamuda Cove land parcel, which was purchased for RM12 psf back in 2014. "Nevertheless, we deem the valuation for Gamuda's latest land purchase to be fair, given that the proposed development's potential can be unlocked earlier by leveraging on the robust growth prospects of the existing Gamuda Cove township. "It expands Gamuda's strategic presence in the growing South Klang Valley conurbation and expected to generate greater footfall for the enlarged Gamuda Cove's commercial offerings. "This also improves connectivity between Gamuda Cove and nearby townships in Dengkil and Bandar Rimbayu," the firm said. CIMB Securities added that the completion of a direct and toll-free, 2km link to Cyberjaya would enhance accessibility to Gamuda Cove. For financial year 2025 (FY25), the firm said Gamuda Cove is projected to contribute RM810 million, or about 14 per cent of the group's new property sales target of RM6 billion. This would lift Gamuda's remaining GDV by about 4 per cent to RM64 billion. The firm maintained its "Buy" rating on Gamuda and target price of RM5.50 pending completion of the new land bank acquisition by the second quarter of this year.
The Star
19-05-2025
- Business
- The Star
Trading ideas: Samaiden, Gamuda, Hextar Capital, Pekat, Magma, ACME, MRCB, Avillion, EG, Paradigm REIT, Maxis, CSC, PIE
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Samaiden Group Bhd has secured a RM108.6mn contract to carry out engineering, procurement, construction and commissioning works for the development of a large-scale solar photovoltaic project. Gamuda Bhd via its wholly-owned subsidiary Gamuda Land (T12) Sdn Bhd has proposed to acquire three parcels of land measuring about 336 acres for RM248.7mn for development as an extension of its 1,530-acre Gamuda Cove township. An associate company of Hextar Capital Bhd has secured a RM427.5mn contract by Tenaga Nasional Bhd for the establishment of a transmission main intake 500/275kV gas insulated substation in Gurun East, Kedah. Pekat Group Bhd 's indirect 60%-owned unit, EPE Switchgear (M) Sdn Bhd, has secured a RM135.2mn contract from Tenaga Nasional Bhd to undertake the supply, installation, testing and commissioning of 33kV and 11kV gas insulated switchgear and related equipment for TNB's electricity distribution network. Magma Group Bhd via its wholly-owned subsidiary Magma Chain Management Sdn Bhd, is setting up a joint venture company with beverage retailer Chagee (M) Sdn Bhd to operate and grow the Chagee business in Malaysia. ACME Holdings Bhd is selling its property in Perai, Penang to Nation Robo Sdn Bhd for RM22mn cash. Malaysian Resources Corp Bhd has secured a contract to develop the Kompleks Sukan Shah Alam worth RM2.9bn. Avillion Bhd , 21.8%-owned by Datuk Dani Abdul Daim, son of the late Tun Daim Zainuddin, plans to raise RM11.5mn through a private placement of 283mn new shares to refurbish one of its main hotels, Avillion Port Dickson. EG Industries Bhd has secured a deal from a US-based firm to supply consumable network and AI-related products for the global market. Main Market-bound Paradigm Real Estate Investment Trust aims to raise RM560mn from its IPO. Maxis Bhd reported a 5.1% increase in net profit to RM371mn for 1QFY25 due to lower net finance costs compared to RM353mn in the same quarter last year. CSC Steel Holdings Bhd posted a 44.2% YoY jump in net profit to RM12.6mn in 1QFY25, from RM8.7mn a year ago, thanks to lower raw material costs. PIE Industrial Bhd 's net profit for 1QFY25 jumped 54.8% to RM15mn from RM9.7mn, thanks to higher demand from its existing customers and lower provision for slow-moving inventories.
New Straits Times
16-05-2025
- Business
- New Straits Times
Gamuda buys 136-ha land for nearly RM250mil to expand Gamuda Cove development
KUALA LUMPUR: Gamuda Bhd, through subsidiary Gamuda Land (T12) Sdn Bhd, has signed three sale and purchase agreements to buy three plots of land for RM248.7 million. The leasehold land is expected to contribute a gross development value (GDV) of RM2.2 billion over an estimated period of 11 years, according to a bourse filing. The acquisition of the combined 136 hectares is part of Gamuda's ongoing strategy to expand the southern tip of its 619-hectare Gamuda Cove development. Gamuda said the proposed acquisition is expected to be completed by second quarter of 2026. Nestled between the lush Paya Indah Discovery Wetlands and the Elite Highway, Gamuda said the acquisition allows Gamuda Land to maximise its placemaking initiatives while capitalising on existing infrastructure investments. The expansion will also provide alternative access routes via Jalan Dengkil-Banting/Bangi, further enhancing the township's accessibility and appeal to a broader market. Gamuda Land chief executive officer Chu Wai Lune said the land acquisition is a continuation of the success achieved with Gamuda Cove. "This expansion not only reinforces our commitment to delivering quality homes but also allows us to enhance the overall vibrancy of the township, ensuring it remains a sought-after destination for both residents and investors," he said in a statement. Gamuda Land said the township will have delivered over 5,000 homes by the end of 2026, establishing a substantial resident population that provides a strong foundation to support and drive its commercial activities. It noted that the next focus is to deliver commercial vibrancy through strategic partnerships, while securing partnerships with various organisations to enhance placemaking in Gamuda Cove. This includes the introduction of eco-tourism activities at the Wetlands Arboretum and Paya Indah Discovery Wetlands. "These initiatives will complement existing attractions such as SplashMania Waterpark and Discovery Park, further enriching the township's appeal," it added.
The Star
16-05-2025
- Business
- The Star
Gamuda acquires 336 acres for extension of Gamuda Cove township
KUALA LUMPUR: Gamuda Bhd via its wholly-owned subsidiary Gamuda Land (T12) Sdn Bhd has proposed to acquire three parcels of land measuring about 336 acres for development as an extension of its Gamuda Cove township. In a statement, the group said it had entered into three separate sales and purchase agreements with Gagasan Ilmu Sdn Bhd for the acquisition of three parcels of leasehold land in Tanjong Duabelas in Kuala Langat, Selangor, for RM248.7mil. The lands, which are leasehold and intended for mixed development, are currently being used for agricultural activities with existing facilities. Gamuda intends to pay for the acquisition with cash funded from internally generated funds. It said the proposed acquisition is expected to be completed by the second quarter of 2026. The proposed development project has a gross development value of RM2.2bil and a duration of 11 years.
