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lagging is good because it is value buy... but after yuo buy, you dont like it because not yet reach full profit potential... well things are like that.
it is an excellent fundamental buy but dun look at nta, look at earning and dividends. they say more realistic stuff. no one is going to give you their asset if you buy their share anyway.
Greater Malaysian Interest Sought For Jabal Omar Development
From Jeffri Mohd Rafiee
RIYADH, Oct 11 (Bernama) -- Jabal Omar Development Company has
invited greater Malaysian interest including Tabung Haji to participate
in the 60-acre (24-ha) real estate project near the Grand Mosque
(Masjidil Haram) in Makkah.
International Trade and Industry Minister Datuk Mustapa Mohamed,
who is on the final leg of his week-long trade and investment mission
to three Arab countries, said the project involved SR18 billion (about
RM17.1 billion).
"Work has started. They are inviting Malaysian investors including
Tabung Haji to rent part of the area that is under development.
"God willing, we are able to hold meetings with the relevant
parties in Malaysia to encourage them to invest in this project," he
told Bernama here Saturday.
Jabal Omar Development Company, listed on the Saudi Stock
Exchange, is the real estate investment, development and property
manager of Jabal Omar.
The project, primarily aimed at providing better housing
facilities for pilgrims, would have 92 multi-storey buildings, 27
five-star and four-star hotels, parking for 12,000 vehicles, commercial
centres, 4,500 shops and 3,000 showrooms, a central transport station and prayer facilities for 202,000 worshippers.
The land and infrastructure part of the project, is scheduled for completion next year.
Presently, Malaysian companies involved in the project include builders Ahmad Zaki Resources and United Engineers.
Mustapa said he had also been briefed by Saudi Arabia-Malaysia
Business Council chairman Dr Sheikh Ghassan Al-Sulaiman on the
possibility of enhancing further bilateral cooperation including the
participation of Malaysian companies in several integrated tourism
projects.
"This is one field that is being developed by Saudi Arabia.
Previously, tourism was seen as a less convincing sector but today,
many of the Gulf nations including Saudi Arabia are diversifying their
economies.
"In the past, they relied too much on oil and gas. Today, they all
want to diversify their economies and I was briefed that tourism is one
of the sectors in focus."
He said the sector was open not only for Saudis but but for people in the Gulf region as well.
"Therefore, the opportunity for Malaysian companies is really good," he said," he said.
-- BERNAMA