Sunway: 1Q17: Expect A Strong 2H17 | I3investor

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Sunway: 1Q17: Expect A Strong 2H17

UOBKayHian

Publish date: Tue, 30 May 2017, 09:40 AM

(SWB MK/BUY/RM3.60/Target: RM3.93)

Sunway’s 1Q17 results came broadly in within expectations at RM107.9m, accounting for 18% of our full-year estimate. Both the investment property and construction division were key earnings drivers this quarter. The group clinched RM142m in property sales during the quarter despite not undertaking any major launches. Key catalysts for the group include potential contract wins for its construction division. Maintain BUY. Target price: RM3.93.

Source: UOB Kay Hian Research - 30 May 2017

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