Malaysia - Housing

[winston]

2025, the year to deliver amid higher expectations

Refocusing on fundamentals and execution strength 3Q24 earnings included significant one-offs, primarily driven by land sales.

Meanwhile, the much-anticipated announcement of the details for JS-SEZ* has been postponed again, this time to Jan 2025, from Dec 2024.

Looking ahead, sector themes are expected to remain focused on Johor (JS-SEZ), data center developments and corporate exercises aimed at enhancing company value through asset crystallization initiatives.

We downgrade the sector to NEUTRAL (from POSITIVE) as we believe most thematic drivers in the sector have already been in play for some time, with no new themes emerging at present.

Our top BUY is SPSB, followed by SDPR.

Source: Maybank

https://mkefactsettd.maybank-ke.com/PDFS/425270.pdf

[winston]

Property – Malaysia 3Q24 Results Largely In Line; Catalytic Themes Shaping 2025

The sector’s 3Q24 core net profit growth met expectations, with two companies exceeding and one falling short.

Looking ahead to 2025, we expect the sector’s core net profit growth (+17% yoy) to outpace revenue growth (+10% yoy), backed by higher margin land sales and industry properties.

Top picks: Lagenda and IOIPG. We also like developers with data centre exposure, such as Mah Sing and Eco World.

Source: UOBKH

chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://39646150.fs1.hubspotusercontent-na1.net/hubfs/39646150/Research/MAL%20Property%20241209.pdf?utm_medium=email&_hsenc=p2ANqtz-_1qPHK-Bs7yJLZFf_iMnIXIWSxV6Qbr0OfM8nWxn8bKC9CL7CukAxLA1GtaMYJuOeY3URaH7uKQv6unJ4dDlCLZ0sCNQ&_hsmi=337610188&utm_content=337610188&utm_source=hs_email

[behappyalways]

Singaporeans locked in legal dispute with developer over ownership of Malaysia property
https://m.youtube.com/watch?v=Q8okZTxe-pc

[behappyalways]

Malaysian real estate has been booming in investment in recent years!
Taiwanese bosses are also coming to buy real estate.
A three-bedroom apartment with parking space in Penang City is only 4.2 million.

馬國房產近年掀投資熱!台灣老闆也來置產 檳城市區3房含車位僅420萬｜非凡財經新聞｜20241230

https://m.youtube.com/watch?v=CWHRSefK4tw

[winston]

Home buyers beware: 109 housing developers blacklisted in Malaysia

He said the list of blacklisted developers will be publicly accessible on the ministry’s website, allowing home buyers to verify the status of developers before purchasing.

Mr Nga said these developers have been issued compound fines and are ineligible to apply for new licences from the National Housing Department and other agencies until they settle their fines and meet requirements.

For developers with ongoing projects, these will be their last for now, ensuring home buyers are not victimised as the ministry addresses unscrupulous practices.

Source: ST

https://www.straitstimes.com/asia/se-as ... lacklisted

[behappyalways]

It is roughly estimated that more than 100 million worth of property was destroyed in this explosion!

动新闻｜这样一爆 粗粗地估计 就炸掉了超过1亿财物！

https://m.youtube.com/watch?v=ixM4ndcUX ... IABgo59PVc

[behappyalways]

Rehda: 77pc of unsold Bumiputera units priced between RM300,000 and RM500,000, high number signals supply-demand mismatch in Malaysian property market
https://www.malaymail.com/news/malaysia ... ket/172794