March 9, 2012

SPSETIA - Keeping the faith

Stock Name: SPSETIA
Company Name: SP SETIA BHD
Research House: HWANGDBSPrice Call: HOLDTarget Price: 3.93



SP Setia; Hold; RM3.93
Price Target: RM4.50; SPSB MK

Improved visibility on management continuity, targeting strong sales and landbank growth. PNB backing could enhance bids for government land and large overseas projects. Maintain Hold and RM4.50 TP (10% discount to RNAV).

Source: HwangDBS Research 9 March 2012

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