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Author: HumbledInvestor   |   Latest post: Fri, 2 Jul 2021, 9:24 AM

 

[Humbled Investor] Property Sector

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Property transactions in Malaysia is expected to continue seeing low volumes of transactions due to the prolonged pandemic lockdown, weak buyer sentiment, political uncertainties and etc.

However, market will always factor in 6-12 months ahead. With the recent rise in commodity/asset prices/inflation rate and huge money supply in the market, some predict that the next theme of recovery will be in property sector.

With the extension of HOC and rising target for daily vaccination, will property counters make a comeback?

Some of the counters like Ecoworld and SP Setia are already showing uptrend in terms of share price. Before Covid-19, property counters have been trading at price-to-RNAV of around 0.6x. But now in average the P/RNAV ratio has risen to 0.7x due to Covid impact.

Here's a list of analyst TP on a few big property players in Malaysia right now. With the expected earnings recovery after pandemic and potential upcoming election, what is your pick right now?

UEMS has been trading at a huge RNAV discount of up to 85% by RHB while UOA Dev is supported with good yields. Some of the companies are trading at sub P/B ratio of 0.5x which is quite attractive.

So, what's your preferred pick?
 
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All information provided here should be treated for informational purposes only. It is solely reflecting author's personal views and the author should not be held liable for any actions taken in reliance on information contained herein.
 
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