Stock Name: SUNREIT
Company Name: SUNWAY REAL ESTATE INVT TRUST
Restoring Sunway Putra Place (SPP) to its glory days. SunREIT unveiled detailed refurbishment plans for Sunway Putra Mall (SPM) yesterday. The RM200m enhancement works, which will be completed by mid-2014, is expected to boost SPP's capital value and double its net property income (NPI). We upgrade our earnings forecasts by 3-8%, and DCF-based TP by 2sen to RM1.40. SunREIT is our top pick for the Malaysian-REIT sector. Maintain Buy.
Maybank Research 15 March 2012
Click here for full report
Company Name: SUNWAY REAL ESTATE INVT TRUST
| Research House: MAYBANK | Price Call: BUY | Target Price: 1.40 |
Restoring Sunway Putra Place (SPP) to its glory days. SunREIT unveiled detailed refurbishment plans for Sunway Putra Mall (SPM) yesterday. The RM200m enhancement works, which will be completed by mid-2014, is expected to boost SPP's capital value and double its net property income (NPI). We upgrade our earnings forecasts by 3-8%, and DCF-based TP by 2sen to RM1.40. SunREIT is our top pick for the Malaysian-REIT sector. Maintain Buy.
Maybank Research 15 March 2012
Click here for full report
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