Stock Name: KLCCP
Company Name: KLCC PROPERTY HOLDINGS BHD
Maintain Buy. KLCC Property (KLCCP) is mulling the potential REIT-ing of its mature assets. To us, the REIT-ing is just a matter of time as it is a logical and necessary move to unlock its deeply-discounted valuations. 2012-13 growth will be driven by the Lot C development (Suria KLCC extension and PT3) and renewal of the 15-year master lease of the PETRONAS Twin Towers. We maintain earnings forecasts and RM4.35 target price (15% discount to RM5.12 RNAV).
Maybank Research - 2 April 2012
Click here for full report
Company Name: KLCC PROPERTY HOLDINGS BHD
| Research House: MAYBANK | Price Call: BUY | Target Price: 4.35 |
Maintain Buy. KLCC Property (KLCCP) is mulling the potential REIT-ing of its mature assets. To us, the REIT-ing is just a matter of time as it is a logical and necessary move to unlock its deeply-discounted valuations. 2012-13 growth will be driven by the Lot C development (Suria KLCC extension and PT3) and renewal of the 15-year master lease of the PETRONAS Twin Towers. We maintain earnings forecasts and RM4.35 target price (15% discount to RM5.12 RNAV).
Maybank Research - 2 April 2012
Click here for full report
No comments:
Post a Comment