KUALA LUMPUR: The Pavilion Bukit Jalil shopping mall, which will open in 2021, has secured one million sq ft of confirmed tenants and is on track to secure another 300,000 sq ft of confirmed tenants.
Pavilion Bukit Jalil retail planner Datuk Joyce Yap said the group is actively seeking new-to-market brands locally and from abroad.
“Despite current market conditions, there are still many regional brands interested to enter Malaysia because of our strong fundamentals and low business cost,” she said in her speech during a media event to announce the mall’s new tenants today.
With 1.8 million sq ft of retail space, Pavilion Bukit Jalil will be the crown jewel of the integrated Bukit Jalil City, comprising retail, residential, commercial and hospitality components.
Pavilion Bukit Jalil will be the largest shopping mall within a 10km radius.
Anchor tenants include Parkson, Dadi Cinema, Food Republic, The Food Merchant, Harvey Norman and Pavilion Bukit Jalil Ice Rink.
Based on reports, Bukit Jalil City, which has an estimated gross development value of RM4bil, is a collaboration between Malton and Pavilion KL. Launched in 2015, the 50-acre project will comprise three phases.
The first phase comprises 112 signature shop offices and have been fully sold since its launch in 2015. The second phase, also fully sold, consists of 1098 units of luxury serviced apartments and 44 units of retail shops.
The third phase comprises the two towers of The Park 2.
Grand total CONFIRM profit to be recognized is RM 466m or EPS RM 1.10/share, DOUBLE CONFIRM profit gain for Hohup. These CONFIRM profit is scheduled to progressively recognized based on construction progress billing.
Remark 1: The sky park residence is scheduled to handover to purchaser by end next month, Q4 2019. Park 2 residence is scheduled to handover to purchaser by Q3 2020. The bukit jalil mall is scheduled to handover to purchaser by Q1 2021.
Remark 2: Aside JV project in Bukit jalil city, Hohup also have own development, namely Aurora Duo (GDV 700m), which is the LAST residence property within the city. The crown suite (RM 590m, 60% sold).
These 2 are the Hohup own self development, to be ADDITIONAL earning driver on top of its 18% share of profit with malton in bukit jalil city.
Ho Hup chief executive officer Datuk Derek Wong “This is a game changer for us. With the sale of the Pavilion Mall and billings from the BJC development, we can expect the next three financial years to showcase a very strong momentum,” he said.
“We are also considering a dividend policy following this, especially with our shareholders having been so patient and weathering the slowdown with us all this while”
In Hohup latest Q result, management have highlight that as a result of disposal Bukit Jalil Pavilion mall, Hohup have on 29 Oct 2019, received its entitlement RM 53m or about 20% of its total entitlement RM 266m (18% of GDV RM 1,490m).
As these entitlement RM 53m receievd on 29 oct, these profit will be recorded in next Q4 result. Hohup plan to use RM 39m to repay bank borrowing and RM 14m for working capital.
The balance 80% entitlement or RM 212m will be progressively recorded based on mall construction progress billing till completion Q1 2021.
Anyone have idea why hohup making higher revenue in construction business segment but is in loss position before tax in september 2019 quarter? As compare to june 2019 quarter, there is lower revenue in construction business segment but making profit before tax.
COUNTER : HOHUP (Code 5169, Main Market, CONSTRUCTION)
Watch HOHUP, as all CONSTRUCTION counters start to initiate a rally.
HOHUP recently in NOV 2019, reported a superb QR, with Net Profit of RM 16.3 million (EPS 4.34c) which implies that it is currently trading at a low PE ratio compared to its peers.
First level to test on confirming uptrend is 57c which is the recent high, then we can look at 60c level.
TRADE AT YOUR OWN RISK. BURSAMASTER SCANNER HAS IDENTIFIED A POSSIBLE MOMENTUM TRADING OPPORTUNITY IN THE ABOVE COUNTER. HOWEVER, ONE NEEDS TO UNDERSTAND THE INHERENT RISKS INVOLVED IN SUCH TRADING ACTIVITIES.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
thesteward
6,782 posts
Posted by thesteward > 2019-11-15 16:24 | Report Abuse
When mkt is stable hohup vsn potentially shoot to easily 70 Sen with that kind of payment . Hold patiently