Bursa Malaysia Stock Watch

KLCC Property: Maintain Buy - A Solid Performance

kltrader
Publish date: Thu, 24 May 2012, 09:40 AM
kltrader
0 20,407
This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
Maintain BUY. KLCCP's 1Q12 core pretax profit was within our expectation (26% of our full-year forecast) but above consensus estimates (29%). We maintain our earnings forecasts and MYR4.35 target price (15% discount to MYR5.12 RNAV). The listing of IGB REIT at a potential 5-5.5% cap rate could set a new benchmark for KLCCP's valuation (with properties valued at cap rates of just 6-7%) and re-rate the stock.

Click here for full report

Source: Maybank Research - 24 May 2012
Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment