Latest news with #RM78.7
Barnama
23-07-2025
- Business
- Barnama
HLIB, RHB Maintain 'buy' Ratings On Pavilion REIT
BUSINESS KUALA LUMPUR, July 23 (Bernama) -- Hong Leong Investment Bank Bhd (HLIB) and RHB Investment Bank Bhd have reiterated their 'Buy' calls on Pavilion Real Estate Investment Trust (REIT) following its second quarter ended June 30, 2025 (2Q25) results. Pavilion REIT reported a 2Q25 core net profit of RM78.7 million, bringing its first-half (1H25) core earnings to RM169.1 million. 'The results were in line with both our and consensus expectations. The outlook for financial year 2025 (FY25) remains positive, supported by sustained tourism-led footfall at key malls such as Pavilion Kuala Lumpur and Pavilion Elite,' said Hong Leong Investment Bank Bhd, in a note today. HLIB said these malls accounted for 67 per cent of 1H25 revenue. 'This, along with management's low- to mid-single-digit rental reversion guidance, reinforces our view of a resilient FY25 performance,' it said. HLIB maintained its 'Buy' call with an unchanged target price of RM1.77. It added that second-half earnings are expected to be stronger, backed by full-period contributions from Banyan Tree Kuala Lumpur and Pavilion Hotel Kuala Lumpur, which were injected into the trust on June 20, 2025. RHB Investment Bank Bhd said third-quarter retail sales are expected to remain soft due to the absence of festive spending, but should improve in the seasonally stronger fourth quarter. 'Looking beyond the near term, management is confident of achieving mid-single-digit rental reversions in FY25, supported by strong bargaining power from high occupancy levels despite the Sales and Service Tax (SST) expansion,' it said.
New Straits Times
08-07-2025
- Business
- New Straits Times
Sabah hits record RM84.3bil economic output in 2024
KOTA KINABALU: Sabah has recorded consistent economic growth since 2021, with the state's total economic output reaching an all-time high of RM84.3 billion in 2024. Sabah Assistant Minister to the Chief Minister Datuk Nizam Abu Bakar Titingan said Sabah's economy posted RM77.8 billion in 2020, rising to RM78.7 billion in 2021 and RM82.1 billion in 2022. "In 2023, Sabah's economic output reached RM83.2 billion, before climbing further to RM84.3 billion this year," he said in response to a question by Datuk Abdul Ghani Mohamed Yassin (GRS–Nabawan) during the question-and-answer session at the Sabah State Legislative Assembly today. Abdul Ghani had queried the state government's achievements in economic growth, human capital development, and public wellbeing under the Sabah Maju Jaya (SMJ) 1.0 development plan, introduced in 2021. Nizam said Sabah's total trade value surpassed RM100 billion in 2022, recording RM118 billion — a significant increase from RM87.2 billion the previous year. He said that Malaysia's Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin had acknowledged Sabah's strong trade performance, with the state posting RM107.8 billion in trade for 2024. "This marks the third consecutive year that Sabah's trade has exceeded the RM100 billion threshold," said Nizam. He added that the state had generated a total of RM26.22 billion in revenue between 2021 and 2024. "The rise in revenue can be attributed in part to the Commercial Collaboration Agreement (CCA) between the state government and Petronas, based on the principles of Greater Say, Greater Participation, and Greater Revenue," he said. On the progress of SMJ 1.0, Nizam said that the development plan had achieved an overall implementation rate of 94 per cent as of May this year. "Of the 467 initiatives under SMJ 1.0, 94 per cent have been implemented, with 366 initiatives fully completed," he said, citing figures from the SMJ Secretariat. In terms of industrial growth, Nizam said the state secured 52 realised investments worth RM17.42 billion between 2021 and 2024. An additional RM10.9 billion in investments was approved in the first quarter of this year. From 2021 to 2024, Sabah recorded RM35.38 billion in project-based investments — comprising RM20.61 billion in domestic investments and RM14.77 billion in foreign investments. He also highlighted progress in addressing the state's water supply issues, with treated water production increasing from 1,505 Million Litres per Day (MLD) in 2021 to 1,630 MLD in 2024. The number of water treatment plants also rose, from 85 plants in 2021 and 2022, to 88 in 2023 and 90 last year. "This reflects the state government's ongoing commitment to improving water supply infrastructure. Various capacity and quality upgrade projects are also underway," he added.
