Bursa Malaysia Stock Watch

Mah Sing (BUY) - Creating a new buzz in Rawang

kltrader
Publish date: Thu, 01 Mar 2012, 06:14 PM
kltrader
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Mah Sing (BUY)
Creating a new buzz in Rawang
  • Mah Sing is acquiring 157 acres of leasehold land near to M Residence @Rawang to develop M Residence 2 @ Rawang.
  • We are very positive as it allows Mah Sing to ride on the strongspillover demand from M Residence, and expect strong development margins giventhat land cost is very reasonable at RM6 psf. 
  • Earnings contribution from FY13 onwards; we raise our FY13-14 earningsestimate by 2-4%.
  • We raise our RNAV-based price target from RM2.37 to RM2.44, to factor inearnings accretion from the new project.  Maintain BUY rating.

Source: HLIB Research 1 March 2012
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