“Six out of eight developers under our coverage (including Glomac’s quarterly result ended January) have reported their quarterly results for the first quarter period. Excluding Glomac, all five developers’ results came in below expectations. This was the biggest disappointment since 2010. " said TA Securities.
PETALING JAYA: Local property developers are likely to chart better earnings performances towards the final quarter of this year, as confidence slowly returns to the market.
TA Securities said the brighter outlook is premised on factors such as an expected economic recovery, reintroduction of the home ownership campaign (HOC), sector-benefiting policies and an accommodative interest-rate environment.
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