Latest news with #RM20.3mil
The Star
27-05-2025
- Business
- The Star
ITMAX expects to secure more town council projects
PETALING JAYA: ITMax System Bhd , which has a total unbilled order book of more than RM1.45bil, is in a good position to secure more projects in the near term. Hong Leong Investment Bank (HLIB) Research, in its latest report on ITMAX, said: 'After securing five out of 16 Johor councils, we expect all to come on board over time to realise the integrated smart city system. 'Furthermore, these deals only comprised digital infrastructure solutions and smart traffic light systems. 'We do not discount that other solutions such as network lighting and more smart parking (currently it has secured jobs from seven councils) could be included. 'Along with the recently awarded Kuala Lumpur City Hall variation order and maiden penetration into Penang, ITMAX is expected to continue to scale new heights,' it said. As at the end of the first quarter of 2025 (1Q25), ITMAX had a total unbilled order book of more than RM1.45bil, which would be recognised progressively up to May 2039. At the end of 1Q25, ITMAX's tender book stood at more than RM500mil. ITMAX is a provider of public space networked systems focusing on lighting, video surveillance and traffic management, as well as communications network services. ITMAX recorded a revenue of RM50.7mil in 1Q25 and yielded a quarterly core net profit of RM20.3mil, which matched expectations, accounting for 24% and 22% of HLIB Research's and consensus full-year forecasts, respectively. The research house is reiterating its 'buy' call with an unchanged target price of RM5.17. 'We opine that ITMAX deserves a premium valuation as it has unique direct exposure to the artificial intelligence theme, especially at the application level. 'We believe that this home-grown smart city integrated system and solution provider, has a compelling investment case, given its multi-year growth potential, on the back of solid order and tender books.'
The Star
06-05-2025
- Business
- The Star
UOA-REIT posts reduced quarterly bottom line
The investment manager is continuing to seek potential yield-accretive acquisition opportunities that align with its strategic objectives. PETALING JAYA: UOA Real Estate Investment Trust (UOA-REIT) is expecting the demand for office space to continue to improve gradually, believing its completed asset enhancement initiatives will help to generate interest on the older buildings in its portfolio. While keeping the gearing within the permissible threshold, the investment manager is continuing to seek potential yield-accretive acquisition opportunities that align with its strategic objectives. Releasing its results for the first quarter ended March 31 yesterday, UOA-REIT saw net profit dropping by 14.6% year-on-year to RM10mil, despite income actually improving by 13.3% to RM29.7mil, driven by better occupancies. However, the REIT saw increased total expenditure amounting to RM20.3mil, primarily attributable to elevated property operating expenses and heightened maintenance costs, which led to the decreased profit for the quarter. 'Realised earnings per unit for the quarter under review has decreased from 1.73 sen to 1.47 sen,' it said in a filing with Bursa Malaysia. Compared to the preceding quarter ended Dec 31, 2024, earnings actually jumped 89.9% from RM5.2mil. This was despite revenue actually remaining flattish.
The Star
06-05-2025
- Business
- The Star
UOA REIT sees improving office demand
PETALING JAYA: UOA Real Estate Investment Trust (UOA REIT) expects demand for office space to continue improving gradually, supported by its completed asset enhancement initiatives aimed at attracting interest in its older buildings. While keeping the gearing within the permissible threshold, the investment manager is continuing to seek potential yield-accretive acquisition opportunities that align with its strategic objectives. Releasing its results for the first quarter ended March 31 yesterday, UOA REIT saw net profit dropping by 14.6% year-on-year to RM10mil, despite income improving by 13.3% to RM29.7mil, driven by better occupancies. However, the REIT saw increased total expenditure amounting to RM20.3mil, primarily attributable to elevated property operating expenses and heightened maintenance costs, which led to the decreased profit for the quarter. 'Realised earnings per unit for the quarter under review has decreased from 1.73 sen to 1.47 sen,' it said in the statement to Bursa Malaysia. Compared to the preceding quarter ended December 31, 2024, net earnings jumped 89.9% from RM5.2mil, despite revenue remaining flattish.
