Daily Industry News Updates (21 December 2020)


S P Setia`s earnings to improve in FY21 

S P Setia Bhd (SP Setia) has better earnings outlook for financial year 2021 (FY21), with profit margin to normalise during the year. In its corporate update on the group, the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) said it had a virtual meeting with S P…

EcoWorld`s FY20 CNI higher on stronger property sales

ECO World Development Group Bhd (EcoWorld) FY20 core net income (CNI) of RM239.8m came in above expectations, making up 117% and 148% of our and consensus’ estimates respectively. The earnings surprise could be attributed to stronger than expected property…

IGB REIT strategically positioned to gain from retail recovery

IGB Real Estate Investment Trust (IGB REIT) is strategically positioned to benefit from th e growth in Malaysia’s economy, supported by its main consumers group – the mass affluent, who usually have better spending power, especially during an economic expansion.

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