Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Strengthening its foothold in Rawang. We view MSGB's latest land acquisition in Rawang positively given its attractive pricing. The 157-acre piece of land, with an estimated GDV of RM650m, is expected to complement and ride on the success of MSGB's M Residence project nearby. We raise our 2013-14 earnings forecasts by 1-3%. Target price is unchanged at RM1.76 based on a 40% discount to RM2.94 RNAV. Maintain Hold.
Maybank Research 1 March 2012
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Company Name: MAH SING GROUP BHD
| Research House: MAYBANK | Price Call: HOLD | Target Price: 1.76 |
Strengthening its foothold in Rawang. We view MSGB's latest land acquisition in Rawang positively given its attractive pricing. The 157-acre piece of land, with an estimated GDV of RM650m, is expected to complement and ride on the success of MSGB's M Residence project nearby. We raise our 2013-14 earnings forecasts by 1-3%. Target price is unchanged at RM1.76 based on a 40% discount to RM2.94 RNAV. Maintain Hold.
Maybank Research 1 March 2012
Click here for full report
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