Stock Name: IGB
Company Name: IGB CORPORATION BHD
Research House: AMMB
Company Name: IGB CORPORATION BHD
Research House: AMMB
AmResearch expects a decent take-up rate for two of IGB Corp's upcoming residential projects this year, given that it has strong followers, despite the soft condo market within the Kuala
Lumpur City Centre and Golden Triangle area.
One of the projects is G Residence in Desa Pandan. It comprises 475 service apartment units with a retail podium, said to be priced around RM800 per square feet, given that the site is facing the upmarket Jalan U-Thant.
In a note today, AmResearch reaffirmed its "hold" rating on IGB, given that the group has not taken advantage of the robust residential property market with the lack of new launches over the past two years.
"However, its income would be supported by its investment properties mostly located within the mature Mid Valley City, accounting for 55 per cent of our financial year 2011 forecast earnings estimate," it said. -- Bernama
Lumpur City Centre and Golden Triangle area.
One of the projects is G Residence in Desa Pandan. It comprises 475 service apartment units with a retail podium, said to be priced around RM800 per square feet, given that the site is facing the upmarket Jalan U-Thant.
In a note today, AmResearch reaffirmed its "hold" rating on IGB, given that the group has not taken advantage of the robust residential property market with the lack of new launches over the past two years.
"However, its income would be supported by its investment properties mostly located within the mature Mid Valley City, accounting for 55 per cent of our financial year 2011 forecast earnings estimate," it said. -- Bernama
No comments:
Post a Comment