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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
Add BT as a preferred sourcePublished Wed, Nov 23, 2016 · 09:50 PM
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.
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