Latest news with #ThePeak
The Star
5 days ago
- Business
- The Star
Gabungan AQRS poised for rebound on potential job wins
PETALING JAYA: Gabungan AQRS Bhd is expected to see improved earnings ahead, supported by the rollout of major infrastructure and property projects, following weaker results for the nine months ended March 31, 2025 (9M25). According to RHB Research, the group could benefit from potential job wins linked to the reinstatement of five Light Rail Transit 3 stations, due to its prior experience working on the Shah Alam Stadium and Glenmarie stations. It is also poised to gain from Phase 1B of the Pan Borneo Highway in Sabah, where its 49%-owned SEDCO Precast Sdn Bhd is a contender to supply precast components worth an estimated RM400mil to RM500mil. The formation of new property joint ventures, such as the Serena Gambang project in Pahang, may further boost earnings. RHB Research noted that, as of today, the group has an outstanding construction order book of RM335mil, which the research house described as 'reasonable at this juncture, as job awards have yet to pick up.' Meanwhile, its Johor Baru development, The Peak, may gain traction due to its proximity to the Johor Baru–Singapore Rapid Transit System Link station. The group has unbilled property sales of RM191mil. In the third quarter of financial year ending June 30, 2025 (3Q25), Gabungan AQRS posted a net loss of RM7.88mil, or a basic loss per share of 1.45 sen. This compared with a net profit of RM3.18mil, or a basic earnings per share of 0.58 sen, in the same quarter last year. Revenue also dropped from RM66.96mil to RM41.08mil during the quarter. For 9M25, the group recorded a net loss of RM16.13mil, compared to a net profit of RM16.91mil in the same period last year. Revenue also dipped from RM376.05mil to RM151.31mil. The negative deviation was due to a weaker-than-expected property division and higher-than-estimated sales costs. While Gabungan AQRS' results missed the research house's forecasts, they exceeded street expectations, accounting for 56% and 115% of the respective full-year projections. Following the results, RHB Research trimmed its FY25 to FY27 earnings forecasts by 14%, 10% and 13%, factoring in slower property revenue recognition and more conservative cost assumptions. 'We also take the opportunity to ascribe a lower target price-to-earnings (PE) (ratio) of eight times, as Gabungan AQRS' remaining orders have not been replenished at the same pace as that of peers,' it added. Nonetheless, RHB Research maintained a 'buy' call on the group, with a revised target price of 33 sen. 'Given the plethora of catalysts and its track record in infrastructure projects like Mass Rapid Transit 1 and Sungai Besi-Ulu Klang Elevated Expressway, the stock remains undervalued relative to peers, trading more than two standard deviations below its five-year mean PE – which justifies our firm 'buy' call,' it added.
South China Morning Post
6 days ago
- Business
- South China Morning Post
After selling homes on The Peak, low-key Ho Shung-pun family puts building on the block
The family of Ho Shung-pun, a low-key clan of real estate developers in Hong Kong, has put a commercial property on the block after selling several luxury houses on The Peak last year to repay debt. Advertisement Colliers is the sole agent for the five-storey building located at 18 Bute Street in Mong Kok. Ho is the director of the Kowloon Investment, which bought the building in 1971 for HK$420,000 (US$53,580), according to official records. The total gross floor area of the building is about 13,000 sq ft, with an average area of 2,550 sq ft per floor, according to Colliers. The property agent said the indicative price for the vacant building, listed on Wednesday, was HK$350 million. Last year, the sale of multiple houses on The Peak fetched the family about HK$3 billion. The Ho family sold a town house at 28 Peak Road for HK$1.05 billion in November to Zhansheng Network Technology, according to official records. The sale of a town house at 28 Peak Road fetched the Ho family HK$1.05 billion in November. Photo: Handout In October, the family sold three units at 99, 101 and 103 Plantation Road to an executive of Hong Kong-listed power-tools maker Techtronic Industries for HK$828 million. The proceeds from the sale were partially used to repay a HK$1.6 billion private loan extended to the Ho family by Gaw Capital that was due in January, sources told the Post.
South China Morning Post
21-05-2025
- South China Morning Post
Police to launch drone patrols in Hong Kong urban areas on Friday
Police will launch drone patrols in the force's Kowloon West region and Hong Kong's northern border area on Friday, with 700 officers and about 30 sets of unmanned aircraft ready to be deployed. Superintendent Tango Ko Chung-ying of the force's key points and search division said patrols would be rolled out under a pilot scheme for three months to evaluate operations. He added that the force aimed to conduct automatic drone patrols on The Peak and Cheung Chau by the end of this year at the earliest. 'In the long run, we hope to equip each police district with its own automatic drone patrol system to regularise drone use in policing,' Ko said. The move confirms an earlier Post report that the force will introduce anti-burglary drone patrols in urban areas, targeting older districts with tenement buildings that may require scaffolding for repairs. Drone patrols will be rolled out under a pilot scheme for three months, police say. Photo: Sun Yeung Chief Inspector Vincent Law Hoi-ming said that the drone patrol pilot scheme would mark a shift from the force's current operations-based approach, in which such aircraft had been used in ad hoc mountain rescue operations, evidence collection, training and aerial surveys for crowd control.
RTHK
20-05-2025
- Business
- RTHK
Kowloon City tours among new projects to woo visitors
Kowloon City tours among new projects to woo visitors Measures are underway to beautify Central through artistic elements. File photo: RTHK Victoria Park markets, in depth-tours of Kowloon City and opening up the old Yau Ma Tei Police Station were among the projects announced by the Working Group on Developing Tourism Hotspots on Tuesday. A total of nine items will be launched from the second quarter of this year to attract more tourists, including eco-tours, food tours, cultural tours and check-in photo spots. Measures are underway to add artistic elements to Central and Kowloon City, while connecting nearby attractions to boost retail and catering in the two areas. Visitors can get a glimpse of the iconic scenes in local movie "Twilight of the Warriors: Walled In" at Kowloon Walled City Park and experience historical views of the district using AR technology. Officials also said they plan to develop "Four Peaks Tourism", involving The Peak, Lantau Peak, Sai Kung Hoi and Tai Mo Shan, inspired by the popular documentary Four Trails. These trails offer unique natural landscapes with convenient public transport access and can be completed in half a day, officials said. Deputy Chief Secretary Warner Cheuk, who heads the group, said the initiatives aim to showcase Hong Kong's unique characteristics and cater to new travel preferences. At a press conference, Cheuk said he is optimistic that the projects will bring a "considerable number of visitors" to the city. "Together, they considerably add to the overall appeal of Hong Kong as a tourist destination to overseas visitors and visitors from the mainland," he said. "In that sense, the projects will result in economic benefits to Hong Kong, and will also benefit the industries involved like the hotel, catering, retail and transportation sectors." Four industrial brands – food company Lee Kam Kee, bakery chain Kee Wah, sauce producer Pat Chun, and probiotics company Yakult – also confirmed they will organise tours with travel agencies from the third quarter. Excluding a project to revitalise the former Hung Hom Railway freight yard, Cheuk said the remaining eight items will cost between HK$20 million and HK$30 million in total.
The Hindu
06-05-2025
- The Hindu
This Chennai art show explores trade narratives of the Coromandel Coast
Echoes of the Coromandel, an art show currently exhibited at DakshinaChitra Museum, Chennai, takes viewers on a voyage along the south-eastern coast of India, previously a thriving maritime connection to Southeast Asia. Developed by a team of ten interns working through the museum's year-long Dak Chola Internship, the show interweaves research and design to bring a lesser-known aspect of maritime history to the fore. 'Trade narratives often focus on the West coming to India,' says Mugdha Chavan, one of the interns, adding, 'but for Southeast Asia, we were the West. There was an entire cultural and commercial exchange happening in that direction, and we wanted to highlight this lesser-told story.' The group was divided into two teams — research and design. While the researchers traced routes, cultures, and commodities, the design team brought them to life in visual form. Most of the pieces on display, from replica coins and pottery to navigational charts, were crafted by hand. Inscriptions were carved with the help of the museum's in-house artisan. Divided into three segments: The Beginning, The Peak, and The Echoes, the exhibition thematically maps this trans-oceanic connection. The first section presents archaeological and literary evidence, including Sangam verses that mention ports, and commodities that were traded. The next section explores traditional navigation techniques that used finger-measurement techniques and the alignment of stars to navigate. A documentary shot by the interns at Kasimedu Harbour features present-day fishermen explaining traditional ship-building and sailing methods that echo those of the past. The final section, The Echoes, illustrates the cultural footprints left behind, like temple architecture, language, and mythology that resonate across borders. The towering statue of Lord Murugan in Malaysia, leather puppets depicting The Ramayana, and similarities in temple design across Southeast Asia, all point to the cultural infusion enabled by trade. Echoes of the Coromandel, on view until May 18, invites visitors to discover a shared history shaped by journeys across the sea. While at DakshinaChitra, one can also check out Four Aesthetics, an art exhibition on view until May 11. This exhibition showcases diversity in art forms and various interpretations of styles, themes, and emotions.
