Bursa Malaysia Stock Watch

AmanahRaya REIT: Maintain Hold - Higher Costs In 1Q

kltrader
Publish date: Thu, 24 May 2012, 09:44 AM
kltrader
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Maintain HOLD. ARREIT's 1Q12 results came in as expected, accounting for 22% of our and consensus full-year estimates. Its 1Q12 DPU of 1.81 sen was also in line. We expect a pick-up in earnings in the following quarters as refurbishment costs taper off, and hence our earnings forecasts and MYR0.95 DCF-based TP are maintained. Positive surprises could come from: 1) the sale of the Wisma UEP building in Subang Jaya and 2) new acquisitions.

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Source: Maybank Research - 24 May 2012
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