IOI Properties shares continue to fall despite higher profit for Q1
The stock has lost 4 per cent since the cash call made last week to fund Marina Bay land acquisition
Kuala Lumpur
IOI Properties fell five sen to RM2.34 on Wednesday, despite announcing the day before a 64 per cent increase in net profit for the first quarter to end-September.
IOI Properties has lost 4 per cent since it proposed a cash call last week to fund its Marina Bay land acquisition. Analysts said the cash call exercise would result in earnings dilution and share price consolidation in the short to medium term.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Evictions surge in Arizona with housing shortage and rising prices
China property shares firm after Politburo highlights clearing inventory
Dubai billionaire’s children plan to revive troubled world islands
UK commercial real estate lending plunges to lowest in a decade
Hybrid, flexible working set to curb Singapore office usage and rents
Australia home prices sustain growth in April, CoreLogic says