KUALA LUMPUR: UEM LAND HOLDINGS BHD [] shares were active in early trade on Thursday, Sept 8 after Maybank IB Research initiated coverage on the stock with a Buy call and said that with strong Khazanah parentage, UEM Land was one of the frontrunners for government land developments in Singapore and Malaysia.
At 9.08am, UEM Land added two sen to RM2.09 with 1.73 million shares done.
Maybank IB in a note Sept 8 said the positive merger with Sunrise has raised UEM Land's profile given Sunrise's expertise in high-rise integrated developments and branding.
'UEM Land is also starting to reap the fruits of its flagship developments in Iskandar Malaysia.
'We initiate coverage on UEM Land with a Buy and RM2.70 TP (20% disc. to RM3.36 RNAV). The broader market weakness offers opportunity to buy for the long term,' said the research house.
At 9.08am, UEM Land added two sen to RM2.09 with 1.73 million shares done.
Maybank IB in a note Sept 8 said the positive merger with Sunrise has raised UEM Land's profile given Sunrise's expertise in high-rise integrated developments and branding.
'UEM Land is also starting to reap the fruits of its flagship developments in Iskandar Malaysia.
'We initiate coverage on UEM Land with a Buy and RM2.70 TP (20% disc. to RM3.36 RNAV). The broader market weakness offers opportunity to buy for the long term,' said the research house.
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