Unlocking deep value. We are excited about the potential REIT-ing of KLCCP's prime assets, which would give an immediate boost to its deeply-discounted valuation. KLCCP currently trades at discounts of 22.5% and 32% to its FD NTA and our FD RNAV, respectively. We maintain our earnings forecasts but raise our RNAV estimate by 126sen to MYR6.38, also our new TP. KLCCP is our top BUY in the property sector.
Click here for full reportSource: Maybank Research - 29 June 2012