Friday, May 20, 2011

IGB ... May11


It could spend as much as RM3 billion acquiring hotels and property development projects overseas.

IGB plans to look to build or acquire a few projects in the UK, Spain, Portugal, the US and Ireland where valuations are low.

IGB had ongoing hotel projects in Malaysia, with three hotels to be built in the next 30 months. IGB is currently building two hotels in Penang with a total capacity of 700 rooms, of which one will be under the St Giles Hotel brand, IGB’s international brand, and the other a Cititel Express. The third hotel, also a Cititel Express, will be located in Ipoh, Perak.

IGB’s property development projects for the next 12 months amount to about RM1 billion in gross development value, with the G Residence in Desa Pandan, which comprises 475 service apartments, being the main project costing about RM500 million.

Recurring income — which contributes 70% to 80% of revenue from hotels, shopping malls and offices — would drive the group’s performance in the near term.

On the third phase of the Mid Valley development, IGB would start building when it gets the development order, which is expected in the 3Q2011. The project is expected to cost RM500 million and will comprise offices, retail, showrooms and food and beverage outlets. This final phase of Mid Valley is expected to be completed within 30 months.

On whether the group has plans for a real estate investment trust (REIT), Tan said: “KrisAssets (Holdings Bhd) is no different from a REIT.

IGB’s transfer of The Gardens to KrisAssets will be completed by 3Q. The mall enjoys about 1.5 million shoppers per month while Mid Valley Megamall has about three million visitors pass through its doors monthly.

IGB recorded RM38.8 million in net profit for 1QFY11 ended March 31, up 9.9% from RM35.3 million in the same quarter last year. Its revenue rose from RM156.1 million in the corresponding quarter last year to RM180 million. Earnings per share as at end March this year stood at 2.67 sen, compared with 2.42 sen last year.

26 comments:

Anonymous said...

buy tramadol online tramadol an 627 online - ordering tramadol online legal

Anonymous said...

xanax online symptoms of xanax overdose - xanax yellow bar r039

Anonymous said...

generic xanax pictures of generic xanax - 1 mg xanax effects erowid

Anonymous said...

buy tramadol overnight delivery tramadol for dogs mg - where to buy tramadol cheap

Anonymous said...

buy tramadol online buy tramadol online cod overnight - 100mg of tramadol erowid

Anonymous said...

buy tramadol cod tramadol vs hydrocodone dosage - get tramadol online no prescription

Anonymous said...

tramadol generic tramadol hcl recreational dose - tramadol dose to get high

Anonymous said...

buy tramadol online tramadol online pharmacy no prescription - tramadol for dogs no prescription

Anonymous said...

buy tramadol online tramadol 50 mg qds - tramadol addiction and withdrawal

Anonymous said...

where to buy xanax online can buy xanax thailand - xanax pills sleep

Anonymous said...

generic xanax order cheap xanax no prescription - xanax dosage recreational erowid

Anonymous said...

buy tramadol online no prescription for tramadol - tramadol mg

Anonymous said...

cheap alprazolam side effects of generic xanax - xanax vs klonopin

Anonymous said...

carisoprodol 350 mg carisoprodol 350 mg generic for - does carisoprodol 350 mg look like

Anonymous said...

xanax online xanax bars addiction - xanax dosage humans

Anonymous said...

buy cialis 20mg generic cialis vs real cialis - cialis online rezeptfrei kaufen

Anonymous said...

buy cialis online generic 36 hour cialis - buy cialis online with no prescription

Anonymous said...

cialis drug cialis recommended dosage - cialis online purchase

Anonymous said...

cialis online cialis dosage 60 mg - buy generic cialis us

Anonymous said...

buy tramadol cash on delivery tramadol used no prescription - dosage for tramadol for dogs

Anonymous said...

buy tramadol tramadol 50mg (generic ultram) - tramadol al 100mg retardtabletten nebenwirkungen

Anonymous said...

http://landvoicelearning.com/#51602 buy tramadol online cash delivery - tramadol online usa

Anonymous said...

http://landvoicelearning.com/#23561 tramadol online overnight - tramadol withdrawal last

Anonymous said...

http://staam.org/#90873 tramadol for dogs itching - buy tramadol hydrochloride

Anonymous said...

http://ranchodelastortugas.com/#50238 xanax dosage 10 mg - generic xanax hilton pharma

Anonymous said...

http://ranchodelastortugas.com/#30416 xanax drug food interactions - xanax withdrawal flu