(WCTHG MK/HOLD/RM2.14/Target: RM2.03)
WCT’s post-results briefing centred on changes to its de-gearing initiatives, future newcontract targets and updates on its property developments. WCT has abandoned plans for an outright sale of its properties and will instead create a WCT REIT. The group has also recently signed an MOU with a Chinese contractor for a potential collaboration and brushed off rumours of it taking part in Bandar Malaysia. Maintain HOLD and target price of RM2.03. Entry price: RM1.80.
Source: UOB Kay Hian Research - 31 May 2017
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