KLSE (MYR): SIMEPROP (5288)
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Last Price
1.47
Today's Change
-0.02 (1.34%)
Day's Change
1.46 - 1.51
Trading Volume
16,642,800
Ann. Date | Date | Type | Units | Price | View |
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could be dragging down by issues Battersea Power Station JV in.UK with Sp setia
1 month ago
Malaysian consortium, comprising S P Setia Bhd, Sime Darby Property Bhd and the Employees Provident Fund (EPF), together with the support of other private and public sector stakeholders were the key drivers in helping the iconic power station roar back to life.
It wasn’t an easy task, of course. Battersea Power Station was purchased by the current shareholders in 2012. A complex transaction, it took 18 months and involved a team of hundreds, including advisers, financiers and solicitors, before the deal was sealed.
1 month ago
I believe this is primarily a technical correction for this counter. The correction should be short-lived, and the stock price should resume its upward trajectory with the anticipated strong upcoming earnings.
1 month ago
Looks like the market has digested the negative performance of Battlesea project. good good
1 month ago
Investorrr could be dragging down by issues Battersea Power Station JV in.UK with Sp setia
15/08/2024 12:28 PM
Between SP Setia and Sime Darby Property, SP Setia has been more affected (shares drop by more than 15%) than Sime Darby Property (drop by 2%) in the Battersea project:
Income Guarantee Agreement: SP Setia’s joint venture agreement for an office tower in Battersea Power Station included an income guarantee for a period of five years. Due to soft market conditions and low occupancy rates, the joint venture reported a significant loss of RM125 million. This agreement has had a more immediate and substantial financial impact on SP Setia compared to Sime Darby Property.
Higher Interest Rates: The higher interest rates in the UK have increased the project’s interest payments, further impacting SP Setia’s financial performance.
Market Reaction: The market reacted strongly to SP Setia’s financial results, leading to a steep decline in its share price by more than 15%, which triggered a suspension of short selling. This sharp decline indicates a lack of investor confidence, exacerbating the impact on SP Setia.
Accounting Impact: While both companies faced accounting impacts due to the International Financial Reporting Standards (IFRS), SP Setia’s losses from the joint venture were more pronounced.
In contrast, Sime Darby Property has managed to maintain a more stable financial performance, partly due to its diversified portfolio and strategic initiatives that have helped mitigate the impact of the Battersea project.
To Our Success !
Meow
1 month ago
https://www.thestar.com.my/business/business-news/2024/08/22/malaysia-shines-as-foreign-investors-return-peers-stumble?utm_source=Smartech&utm_medium=email&utm_campaign=dailynewsalert&utm_content=20240823&__sta=vhg.uosvpxQddhqne.jsu0sv%7CIFFUJVQ&__stm_medium=email&__stm_source=smartech
The stock benchmark KLCI has risen more than 12% this year on the back of an AI-driven data center boom, outperforming the 6% rise in the MSCI Southeast Asia index .
1 month ago
Sales in January-June rose 40% to RM2.1 billion and the company now expects to sell RM3.5 billion worth of properties by the end of December, Sime Darby Property said in a statement following its latest quarterly results announcement. That compares to its earlier forecast of RM3.0 billion for 2024.
The company “is on track to meet its FY2024 targets, bolstered by a strong first half performance”,
1 month ago
Sime Darby Property Berhad Announces First Interim Single Tier Dividend for the Financial Year Ending 31 December 2024, Payable on November 6, 2024
Sime Darby Property Berhad announces First interim single tier dividend of 1.5 sen per ordinary share in Sime Darby Property Berhad for the financial year ending 31 December 2024. Ex-Date 14 October 2024, Entitlement date 15 October 2024 and Payment Date 06 November 2024.
1 month ago
Sime Darby Property Bhd expects the occupancy rate for Phase 3B of Battersea Power Station in the UK to rise to 50-80% by next year, up from 20% currently and announced First Interim Single Tier Dividend for the Financial Year Ending 31 December 2024, Payable on November 6, 2024.
1 month ago
Sime Darby Property unveils commercial heartbeat of City of Elmina. Beautiful
https://theedgemalaysia.com/node/722978
1 month ago
Nta 1.51 Stock pr 1.4....EPF day2 sapu....This biggest property co will reap the full benefits of a strengthening economy n the upcoming HSR....look at what happen to frontkn when EPF hari2 beli dia...
2 weeks ago
SD Guthrie owns around 11,000 ha of land on Carey Island, accounting for roughly 85% of the island.
Upon the development kick off, other than SD Guthrie, the beneficiaries would be Sime Property, Sime Darby and other construction companies.
https://www.thestar.com.my/business/business-news/2024/08/13/monetisation-of-carey-island-to-buoy-sd-guthrie
2 weeks ago
The reduction of interest rate will benefit property, infrastructure, utility companies while lower interest rates can present challenges for banks, they can also create opportunities through increased lending activity and improved asset quality.
1 week ago
Good News this morning. Here are the key points:
Fed Cuts Rates: The Federal Reserve cut interest rates by half a percentage point, citing increased confidence in inflation moving towards 2%.
Economic Projections: Policymakers expect further rate cuts, with the benchmark rate falling to 2.75%-3% by 2026.
Market Reactions: US stocks gained, the US dollar fell, and Treasury yields dropped following the announcement.
Labour Market Concerns: The Fed’s decision reflects concerns about a potential slowdown in the job market, despite progress on inflation.
1 week ago
A sudden surge in prices may be imminent, as attention is expected to shift to property counters soon, with most chart indicators showing a positive uptrend.
1 week ago
SIMEPROP: Momentum Building For A Surge?
https://klse.i3investor.com/web/blog/detail/bestStocks/2024-09-23-story-h469308697-SIMEPROP_Momentum_Building_For_A_Surge
1 week ago
lionel messi
Almost all property stocks suddenly got sold down today. What's the story?
1 month ago