Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Property developer Mah Sing Group Bhd has a bright potential of exceeding its sales target of RM2 billion this year with
the positive responses to its recently-launched launched projects, says OSK Research.
Last year, Mah Sing broke the RM1 billion sales mark with total sales of RM1.5 billion sales, beating its initial internal target for the second consecutive year by 50 per cent
"Sales soared 113 per cent year-on-year from RM727 million in 2009. "The fact that it has achieved total sales of RM975 million as at mid-May, or almost 49 per cent of its sales target for the whole this year is very encouraging," the research firm said, in its first coverage statement on Mah Sing, today.
This year, Mah Sing is expected to launch some RM2.5 billion worth of projects with the Klang Valley to account for 83 per cent of the total gross development value (GDV).
"In view of strong demand for residential properties, around 73 per cent of the GDV of this year's launches will consist of residential properties while the remaining 25 per cent and two per cent will comprise commercial and industrial properties respectively," OSK Research added.
OSK has placed a 'buy' call on Mah Sing with a fair value of
RM3.01. -- Bernama
Company Name: MAH SING GROUP BHD
| Research House: OSK | Price Call: BUY | Target Price: 3.01 |
Property developer Mah Sing Group Bhd has a bright potential of exceeding its sales target of RM2 billion this year with
the positive responses to its recently-launched launched projects, says OSK Research.
Last year, Mah Sing broke the RM1 billion sales mark with total sales of RM1.5 billion sales, beating its initial internal target for the second consecutive year by 50 per cent
"Sales soared 113 per cent year-on-year from RM727 million in 2009. "The fact that it has achieved total sales of RM975 million as at mid-May, or almost 49 per cent of its sales target for the whole this year is very encouraging," the research firm said, in its first coverage statement on Mah Sing, today.
This year, Mah Sing is expected to launch some RM2.5 billion worth of projects with the Klang Valley to account for 83 per cent of the total gross development value (GDV).
"In view of strong demand for residential properties, around 73 per cent of the GDV of this year's launches will consist of residential properties while the remaining 25 per cent and two per cent will comprise commercial and industrial properties respectively," OSK Research added.
OSK has placed a 'buy' call on Mah Sing with a fair value of
RM3.01. -- Bernama
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