Stock Name: MAHSING
Company Name: MAH SING GROUP BHD
Kenanga Research cut its target price for property developer Mah Sing Group to RM2.00 (US$0.64) from RM2.18 on an outlook for higher net gearing after acquiring more landbank.
Kenanga said it was neutral on Mah Sing's recent RM333.2 million acquisition for 412.4 acres of land on the outskirts of the Malaysian capital.
"Although the 0.6x net gearing is manageable and is expected to fall below 0.5x over the next two quarters on the back of continuous billings, we prefer developers to keep their net gearing ratios below 0.5x, particularly in the current global uncertainties," Kenang said in a note to clients. -- Reuters
Company Name: MAH SING GROUP BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 2.00 |
Kenanga Research cut its target price for property developer Mah Sing Group to RM2.00 (US$0.64) from RM2.18 on an outlook for higher net gearing after acquiring more landbank.
Kenanga said it was neutral on Mah Sing's recent RM333.2 million acquisition for 412.4 acres of land on the outskirts of the Malaysian capital.
"Although the 0.6x net gearing is manageable and is expected to fall below 0.5x over the next two quarters on the back of continuous billings, we prefer developers to keep their net gearing ratios below 0.5x, particularly in the current global uncertainties," Kenang said in a note to clients. -- Reuters
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