Bursa Malaysia Stock Watch

Sunway (Hold): A margin-led quarter

kltrader
Publish date: Fri, 25 Nov 2011, 11:32 AM
kltrader
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In line. Sunway's RM226m 9M11 core net profit accounted for 72-80% of our full-year estimates and consensus. The formalization of Bank Negara's prudent lending guidelines removes the uncertainties in the market pertaining to policy risk. We hence raise our TP to RM2.28 on a reduced 40% discount (50% previously) to RNAV. Maintain Hold.

Maybank research (25 November 2011)

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