Stock Name: UEMLAND
Company Name: UEM LAND HOLDINGS BHD
Maintain Hold. Rising news-flow on government land development awards may lift UEML's near-term share price as it is viewed as one of the frontrunners. Whilst UEML may benefit from these land wins, some of its existing projects especially in Mont Kiara are facing competition from the rising RM15b KL Metropolis project. We maintain our earnings forecasts and RM2.02 TP (40% discount to RM3.37 RNAV). UEML will be the first property group to be included in FBMKLCI 30 (from 19 Dec).
Maybank research (16 December 2011)
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Company Name: UEM LAND HOLDINGS BHD
| Research House: MAYBANK | Price Call: HOLD | Target Price: 2.02 |
Maintain Hold. Rising news-flow on government land development awards may lift UEML's near-term share price as it is viewed as one of the frontrunners. Whilst UEML may benefit from these land wins, some of its existing projects especially in Mont Kiara are facing competition from the rising RM15b KL Metropolis project. We maintain our earnings forecasts and RM2.02 TP (40% discount to RM3.37 RNAV). UEML will be the first property group to be included in FBMKLCI 30 (from 19 Dec).
Maybank research (16 December 2011)
Click here for full report
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