Stock Name: IREKA
Company Name: IREKA CORPORATION BHD
Affin Research upgraded property developer Ireka Corp Bhd to "buy" with a higher target price of RM1.06 per share as it expected the stock to be re-rated once the company's property projects were launched.
"We see a significant boost to the bottomline of Ireka in the fiscal year ending March 31, 2013 (FY2013) to FY2015 when the four property development projects (with a total gross development value of 1.4 billion ringgit) are launched as scheduled," the broker said in a research note on Friday.
Affin said the impact on the earning per share and net asset value would be significant given the small issued share capital of the company. Ireka's four development projects, mostly located in the Klang Valley, were scheduled for launch between September 2012 and mid-2013, the broker added. -- Reuters
Company Name: IREKA CORPORATION BHD
| Research House: AFFIN | Price Call: BUY | Target Price: 1.06 |
Affin Research upgraded property developer Ireka Corp Bhd to "buy" with a higher target price of RM1.06 per share as it expected the stock to be re-rated once the company's property projects were launched.
"We see a significant boost to the bottomline of Ireka in the fiscal year ending March 31, 2013 (FY2013) to FY2015 when the four property development projects (with a total gross development value of 1.4 billion ringgit) are launched as scheduled," the broker said in a research note on Friday.
Affin said the impact on the earning per share and net asset value would be significant given the small issued share capital of the company. Ireka's four development projects, mostly located in the Klang Valley, were scheduled for launch between September 2012 and mid-2013, the broker added. -- Reuters
No comments:
Post a Comment