KUALA LUMPUR: SP SETIA BHD [] led property stocks lower in mid-morning trade on Tuesday, Jan 18, as investors were quick to lock in gains, especially after the strong performance in the share prices the previous day.
At 10.20am, SP Setia was down 37 sen to RM.33 with 1.66 million shares done. The warrants, SP Setia-WB shed 27 sen to RM1.96.
Kris Assets-WA fell 13 sen to RM1.40 with just 700 units done, YTL Land lost 11 sen to RM1.76, Cresendo-WA 10 sen to 60 sen and SunCity nine sen to Rm4.60.
The FBM KLCI was down 1.67points to 1,572.82. Turnover was'' 512.78 million sharesvalued at RM431.16 million. There were 163 gainers, 414 losers and 259 stocks unchanged.
Hwang DBS Vickers Research said it was maintaining a Buy on SP Setia and target price of RM7.70, based on 15% premium to existing RNAV of RM6.63.
It said the prime 40-acre Bangsar land with potential gross development value of RM11 billion could boost RNAV by 11% or 76 sen per share
SP Setia announced it was raising RM1.1 billion via a placement exercise for capex and land acquisition and also a one-for-two bonus issue sweetener.
At 10.20am, SP Setia was down 37 sen to RM.33 with 1.66 million shares done. The warrants, SP Setia-WB shed 27 sen to RM1.96.
Kris Assets-WA fell 13 sen to RM1.40 with just 700 units done, YTL Land lost 11 sen to RM1.76, Cresendo-WA 10 sen to 60 sen and SunCity nine sen to Rm4.60.
The FBM KLCI was down 1.67points to 1,572.82. Turnover was'' 512.78 million sharesvalued at RM431.16 million. There were 163 gainers, 414 losers and 259 stocks unchanged.
Hwang DBS Vickers Research said it was maintaining a Buy on SP Setia and target price of RM7.70, based on 15% premium to existing RNAV of RM6.63.
It said the prime 40-acre Bangsar land with potential gross development value of RM11 billion could boost RNAV by 11% or 76 sen per share
SP Setia announced it was raising RM1.1 billion via a placement exercise for capex and land acquisition and also a one-for-two bonus issue sweetener.
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