Bursa Malaysia Stock Watch

AEON ' Five New Malls By 2014

kltrader
Publish date: Tue, 10 Apr 2012, 11:39 AM
kltrader
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AEON ' Five New Malls By 2014                          Market Perform (Upgraded)
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''       AEON expects to open another outlet in Dec 2012 in Sri Manjung. The mall would be leased from the developer and have total net lettable area of 400k sq ft. Further ahead, we understand that AEON has plans to open one mall in 2013, although no details on location were given. In 2014, AEON expects to open three new malls, i.e. Kulai, Sg. Petani and Bukit Mertajam.
''       We raise our fair value to RM10.40 (from RM8.90) based on a new target PER of 16x FY12 EPS (from 14x FY12 EPS previously). We upgrade our call on the stock to Market Perform.

Source: RHB Research - 10 April 2012
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