HLIB: IOI Properties Group should report over RM1 billion headline profit in Q4 2024
My second property in Penang was by an IOI Properties subsidiary company. That was the property which kick-started my property investment journey. I personally believe our property investment journey starts when we buy the second property. If it’s just one, then it’s just a property buy. Note that this is my own definition and I have no idea what other think. Now, there’s some good news with regards to IOI Properties Group.
Article in nst.com.my. IOI Properties Group Bhd should report over RM1 billion headline profit in the fourth quarter (Q4) 2024 that includes revaluation gain from IOI Central Boulevard (IOICB).
“Moving into Q1 2025, the group should see a strong quarter from Melaka land sale gain as well as a sharp turnaround for its hospitality segment.
“This is due to the contribution of its newly refurbished and acquired hotels—Palm Garden, Putrajaya Marriott, and Courtyard Penang,” it said in a note.
“In the first half of 2025 (1HFY25), the company property investment and hotel assets also benefit from the lowering of the Imbalance Cost Pass Through (ICPT), rate by one sen per kWh for commercial electricity tariff rates,” it said.
“Our forecast is unchanged. (We) maintain our buy call with a higher target price of RM3.60 from RM3.30,” it added. Do read here for the full report: Article in nst.com.my.
This is the current share price of IOI Properties Group Berhad
It’s pretty healthy to be frank. PE ratio is not considered very high. Dividend yield at 3.54 percent is higher than FD plus potential capital appreciation if business continues to do well. I do not own any shares of IOI Properties Bhd and whether you buy or not is entirely dependent on your own decision yeah. Everyone has their own appetite and thoughts when it comes to buying the shares of the company they like.
If you prefer a more dynamic company, then property developer is not going to give you any great excitement. Probably a company in the technology space is more preferred. If you prefer a stable, growing and branded name, then IOI Properties Group Bhd is one of them.
Cheers.
Please share with people you care. You can get daily updates too.
Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).
Alternatively, Follow me on Telegram here.
Please LIKE kopiandproperty.com FB page to get daily updates about the property market beyond kopiandproperty.com articles.
Discover more from kopiandproperty.com
Subscribe to get the latest posts sent to your email.
