<div>This article first appeared in<em> The Edge Financial Daily</em>, on August 17, 2016.<br />
<br />
&nbsp;</div>

<div class=newsTextDataWrapInner><p><strong>Tower Real Estate Investment Trust (-ve)</strong></p></div>

<div class=newsTextDataWrapInner><p>UNITS in Tower Real Estate Investment Trust (REIT) (Fundamental: 1.6/3, Valuation: 1.05/3) triggered our momentum algorithm for a second consecutive day yesterday as the stock price fell one sen or 0.8% to close at RM1.24, with 191,600 units traded. This compared to its 200-day average volume of 40,836 shares.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>On Monday, the REIT has proposed an interim income distribution of 3.2 sen per unit, payable on Sept 14.</p></div>

<div class=newsTextDataWrapInner><p>Net property income fell 4% to RM6.03 million in the second quarter ended June 30, 2016, from RM6.28 million. Gross revenue declined 1.4% to RM9.37 million from RM9.5 million, on lower occupancy rate, lower interest income and higher property operating expenses.</p></div>

<div class=newsTextDataWrapInner><p>The net asset value per unit as at June 30 is RM1.9424.</p></div>

<div class=newsTextDataWrapInner><p>The stock currently trades at a trailing 12-month price-earnings ratio of 17.44 times and 0.64 times book value.</p></div>


This article first appeared in The Edge Financial Daily, on August 17, 2016.

 

Tower Real Estate Investment Trust (-ve)

UNITS in Tower Real Estate Investment Trust (REIT) (Fundamental: 1.6/3, Valuation: 1.05/3) triggered our mo...

Stock With Momentum: Tower Real Estate Investment Trust

Mobvoi Inc, a Chinese artificial intelligence (AI) developer backed by Alphabet Inc’s Google, dropped as much as 22% in its first day of trading in Hong Kong, marking the third stock debut to flop in the city this week.

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KUALA LUMPUR (April 24): Dataprep Holdings Bhd said on Wednesday that Tan Sri Muhammad Ikmal Opat Abdullah has ceased to be the substantial shareholder in the IT products and services company.

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A key measure of Chinese copper demand just sank to zero, another sign that global prices are not balanced with what buyers in the biggest market are prepared to pay.

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China can withstand any new tariffs the world throws at it — even the punitive ones Donald Trump is planning if he wins a second presidential term — because its prices are simply too competitive to resist.

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Hong Kong is set to follow in the footsteps of the US by listing a batch of cryptocurrency exchange-traded funds (ETFs), providing a window on whether the city is making progress on fashioning a hub for digital assets.

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FRANKFURT (April 24): Roche confirmed ambitions to return to sales growth this year on a continued boost from eye drug Vabysmo, after first-quarter sales slipped by 6% on the loss on Covid-19-related revenue.

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STOCKHOLM (April 24): Swedish automaker Volvo Cars reported a rise in first-quarter adjusted operating earnings on Wednesday, helped by lower material costs and higher volumes.

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Gold’s record-setting rally this year has puzzled market watchers, as bullion has roared higher, despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.

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Thailand's current policy interest rate settings were robust and can handle future risks to the economy, the central bank said on Wednesday, amid continued pressure from the government to lower borrowing costs and help jumpstart sluggish growth.

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<p>The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.</p>




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<p>Farm Price Holdings Bhd on Wednesday began taking orders from investors for its initial public offering (IPO) on the ACE Market to raise up to RM32.4 million.</p>

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Farm Price starts taking orders for ACE Market IPO to raise up to RM24.48 mil

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M'sian automakers expected to feel pinch from lower sales, higher costs, rise of Chinese OEMs

<p>E-government services provider MyEG Services Bhd has inked an agreement to collaborate on the launch of a virtual asset fund or Hong Kong virtual assets exchange-traded fund (ETF) products.</p>


MyEG inks partnership to launch Hong Kong virtual assets

<p>Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.</p>


NationGate may extend upward trajectory, says Rakuten Trade 

<p>Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is the entity that is bidding to acquire SriLankan Airlines, and if it materialises, will raise its own capital for the acquisition, according to chief executive officer Tan Sri Tony Fernandes.</p>


AirAsia Consulting, not AirAsia, is bidding for SriLankan Airlines, says Fernandes

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Fernandes to be CEO of Capital A for another five years

<p>Shares of DXN Holdings Bhd surged on Wednesday to its highest in more than a month as analysts continued to urge investors to buy the stock after the health supplement company’s fourth-quarter (4Q) results.</p>


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<p>Bursa Malaysia remained in positive territory at the midday break on Wednesday, supported by continuous buying in selected heavyweight counters, especially in the telecommunications and media sectors.&nbsp;</p>


Telco shares lift Bursa higher at midday

<p>One of the world’s busiest land checkpoints is set to become less congested as Malaysians travelling to Singapore on factory buses will be able to clear immigration through QR code.</p>


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<p>Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the US megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.</p>


Asian shares jump on tech boost; fragile yen on intervention watch

<p>Tesla Inc is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales.</p>


Tesla to accelerate launch of cheaper cars after sales miss

<p>Haily Group Bhd shares continued their uptrend on Wednesday to a near all-time high, after the construction outfit won a RM109.5 million contract for terrace houses in Pontian, Johor.</p>


Haily shares near all-time high after securing RM109.5m housing job

<p>Bursa Malaysia opened higher on Wednesday, tracking Wall Street's upbeat overnight performance, as confidence was buoyed by a spate of solid corporate earnings that many see as a precursor of those from the mega caps which will be reported over the next few days, said an analyst.</p>


Bursa opens higher, tracking overnight Wall Street

<p>US stocks closed higher on Tuesday following positive earnings from top-tier companies and as investors were focused on quarterly results from Magnificent Seven and other megacap growth stocks.</p>


Wall Street closes higher as investors digest earnings, megacap outlook

<p>Meta Bright Group Bhd said its wholly owned subsidiary FBO Land (Serendah) Sdn Bhd and Doople Tech Sdn Bhd have entered a solar supply agreement with Cherengin Hills Sdn Bhd, following its recent collaboration with Doople to form a joint venture (JV) company to bid for renewable energy (RE) projects with a Bumiputera equity requirement.</p>


Meta Bright lands solar supply deal after forming JV company with Doople

<p>This was supposed to be the year that Vietnam reaped the benefits from one of its largest natural gas discoveries.</p>


Xi’s armada is winning the battle for energy in South China Sea

<p>RHB Retail Research said Censof Holdings Bhd is observing a technical breakout after climbing above the 26.5 sen immediate resistance on surging trading volume.</p>


Censof observing technical breakout, says RHB Retail Research 

<p>The ringgit rebounded in early trade on Wednesday as the US dollar retreated after S&amp;P Purchasing Managers' Index (PMI) data disappoint.</p>
