Stock Name: PARKSON
Company Name: PARKSON HOLDINGS BHD
Parkson Holdings Bhd's (PHB) share price rose one sen to RM4.68 as at 12.16pm today, on news that it has acquired six hectares of land in Melaka for RM98 million.
The company said the proposed acquisition is expected to be completed by December this year and plans to develop a shopping mall on the land.
HwangDBS Vickers Research has maintained a "hold" call on PHB's shares with a target price of RM4.90.
It said it does not expect this new acquisition to impact PHB's earnings in the near term as it will take time for PHB to construct the shopping mall.
"Overall, we view this deal positively as it jives with management's long-term objective of building and owning its portfolio of investment properties and eventually setting up a retail REIT," HwangDBS said in its research note today.
-- Bernama
Company Name: PARKSON HOLDINGS BHD
| Research House: HWANGDBS | Price Call: HOLD | Target Price: 4.90 |
Parkson Holdings Bhd's (PHB) share price rose one sen to RM4.68 as at 12.16pm today, on news that it has acquired six hectares of land in Melaka for RM98 million.
The company said the proposed acquisition is expected to be completed by December this year and plans to develop a shopping mall on the land.
HwangDBS Vickers Research has maintained a "hold" call on PHB's shares with a target price of RM4.90.
It said it does not expect this new acquisition to impact PHB's earnings in the near term as it will take time for PHB to construct the shopping mall.
"Overall, we view this deal positively as it jives with management's long-term objective of building and owning its portfolio of investment properties and eventually setting up a retail REIT," HwangDBS said in its research note today.
-- Bernama
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