Stock Name: NAIM
Company Name: NAIM HOLDINGS BHD
Shares of Naim Holdings Bhd rose as much as 2.21 per cent after the Borneo-based construction firm said it aimed to move into the real estate investment trust (REIT) business.
At 0226 GMT, the counter was up 1.66 per cent at RM1.84 per share, as compared with the broader index's 0.16 per cent drop.
"We are positive on the news (Naim's intention to move into REIT) as this would provide Naim with sustainable recurring income," MIDF Research said in a note on Wednesday.
Nonetheless, it will launch the REIT only after investments have reached sufficient size, said MIDF. It reiterated its 'buy' call on the counter with a revised target price of RM3.04 from RM3.01 per share.- Reuters
Company Name: NAIM HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.04 |
Shares of Naim Holdings Bhd rose as much as 2.21 per cent after the Borneo-based construction firm said it aimed to move into the real estate investment trust (REIT) business.
At 0226 GMT, the counter was up 1.66 per cent at RM1.84 per share, as compared with the broader index's 0.16 per cent drop.
"We are positive on the news (Naim's intention to move into REIT) as this would provide Naim with sustainable recurring income," MIDF Research said in a note on Wednesday.
Nonetheless, it will launch the REIT only after investments have reached sufficient size, said MIDF. It reiterated its 'buy' call on the counter with a revised target price of RM3.04 from RM3.01 per share.- Reuters
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