WCT property outlook seen challenging

WCT and Bina Puri are among the more active contractors in Sabah over the past few years

PETALING JAYA: WCT Holdings Bhd’s property sales are set to remain challenging this year as the market remains soft with a lack of new launches, analysts said.

CIMB Research said there were no new property launches in 2018 and that WCT’s total property sales last year of RM146mil were entirely from its lower margin inventory. “In the fourth quarter of 2018, total new property sales of a mere RM23mil, which was the worst quarterly new sales recorded in 2018 (minus 54% quarter-on-quarter),” it said in a report.