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Not an easy time for developers. Results are affected.

We occasionally read about some developers receiving some bookings when they launched their properties online even during the COVID-19 period. Frankly, even if the numbers look okay, this is still a very small representation to the whole property market. Current times are not the best times, especially for property developers. Sales galleries, even if they are open will definitely not see any huge crowd.

I do think viewing the property in a sales gallery is fine but that jittery feeling of trying not to touch anything at all when viewing will make everyone nervous. The husband reminding the wife not to touch anything or the wife asking the sales person not to stand too near them are just the usual things that would happen. Anyway, you get my idea. Soon, it should be better hopefully. Let the normalisation continue to happen. Another developer just announced their results today.

Article in edgeprop.my here. GuocoLand (Malaysia) Bhd’s net loss widened to RM10.13 million for the third quarter ended March 31, 2020 (Q3FY20), from RM6.96 million a year earlier. Quarterly revenue was slightly higher, rising by 3.05% to RM98.06 million, from RM95.16 million in 3QFY19. This is helped by the higher progressive revenue earned from its on-going Emerald Hills project.

In a filing to the exchange yesterday, GuocoLand attributed the losses to higher selling and marketing expenses, administration expenses, as well as finance costs. It said, the selling and marketing expenses grew by 50.49% to RM3.54 million, from RM2.36 million a year ago, mainly due to more sales and marketing activities on its on-going projects. Guocoland said, “The group’s business operations have been impacted by the implementation of Movement Control Order by the Malaysian government in mid-March 2020, where it has inevitably disrupted its operations in the property development, property investment and hotel segment.” Do read the full article in edgeprop.my here.

If you like to know a little about this listed property developer, just need to google yeah. Image below on their latest share price and some vital numbers.

Highest point within the past 12 months would be 75 sen while the lowest point was 37 sen. Current price is at the middle yeah. More clarity on their actual performance would only come when the COVID-19 situation gets better. As for now, maybe can visit some of their projects and see if it’s worthwhile to buy the stock if not the property itself. Happy visiting.

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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