<div class=newsTextDataWrapInner><p>This article first appeared in<em> The Edge Financial Daily,</em> on December 31, 2015.</p></div>

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<div class=newsTextDataWrapInner><p><strong>Iskandar Waterfront City Bhd (-ve)</strong></p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>JOHOR-BASED property developer IWCITY (Fundamental: 1.15/3, Valuation: 0.5/) closed 2.5% lower to 99.5 sen in active trade, with 11.9 million shares changing hand.</p></div>

<div class=newsTextDataWrapInner><p>This came after it was reported that the consortium led by IWCITY and China Railway Construction could emerge as a successful bidder for 1MDB’s 60% stake in Bandar Malaysia Sdn Bhd (BMSB). BMSB is the developer of Bandar Malaysia, a RM40 billion transport-oriented township development in Kuala Lumpur, which will house the KL-Singapore high speed rail (HSR) terminus.</p></div>

<div class=newsTextDataWrapInner><p>Just last month, IWCITY has accepted a compulsory acquisition from Pentadbir Tanah Johor Bahru to dispose two parcels of land, measuring 92.8 acres, in Mukim Plentong, Johor to the state government for RM170.1 million or RM42.1 per square feet.</p></div>

<div class=newsTextDataWrapInner><p>This resulted in a strong 3Q2015 earning. Both revenue and net profit surged more than five-fold y-y to RM148.5 million and RM20.8 million, respectively.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p><img alt="iskandar_swm_fd_311215" src="http://edgemarkets.s3-ap-southeast-1.amazonaws.com/pictures/iskandar_swm_fd_311215.png" /></p></div>

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This article first appeared in The Edge Financial Daily, on December 31, 2015.

 

Iskandar Waterfront City Bhd (-ve)

JOHOR-BASED property developer IWCITY (Fundamental: 1.15/3, Valuation: 0.5/) closed 2.5% lower to 99.5 sen in active tra...

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