KUALA LUMPUR: CIMB Equities Research has initiated coverage on Sunway Bhd with a Buy, pegging its target price to a 20% discount to its RNAV.
The research house said on Wednesday, Oct 5 the merged Sunway group offers value, not just because of its share price decline but also the potential synergies from more in-house CONSTRUCTION [] of its property projects.
'We also like the growth prospects for its construction division, which could clinch more ETP/10MP jobs. Sunway offers exposure to Malaysia's rising construction activities. It is also an
integrated property group that enjoys recurring income from property investments and REITs,' it said.
The research house said on Wednesday, Oct 5 the merged Sunway group offers value, not just because of its share price decline but also the potential synergies from more in-house CONSTRUCTION [] of its property projects.
'We also like the growth prospects for its construction division, which could clinch more ETP/10MP jobs. Sunway offers exposure to Malaysia's rising construction activities. It is also an
integrated property group that enjoys recurring income from property investments and REITs,' it said.
No comments:
Post a Comment