Bursa Malaysia Stock Watch

Mah Sing Group: Maintain Hold - Second land purchase in Rawang

kltrader
Publish date: Thu, 01 Mar 2012, 09:19 AM
kltrader
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Strengthening its foothold in Rawang. We view MSGB's latest land acquisition in Rawang positively given its attractive pricing. The 157-acre piece of land, with an estimated GDV of RM650m, is expected to complement and ride on the success of MSGB's M Residence project nearby. We raise our 2013-14 earnings forecasts by 1-3%. Target price is unchanged at RM1.76 based on a 40% discount to RM2.94 RNAV. Maintain Hold.

Maybank Research 1 March 2012

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