Bursa Malaysia Stock Watch

KLCC Property: Maintain Buy - 1H12 Results: On Track

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Publish date: Tue, 14 Aug 2012, 09:31 AM
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1H12 Results: On Track
  • No surprises. KLCCP's 1H12 core net profit of MYR193m was in line, at 53% of our and 50% of consensus full-year estimates.
  • We maintain our earnings forecasts and MYR6.38 RNAV-based target price.
  • The potential REIT-ing of its world-class commercial buildings would unlock deeply-discounted values. KLCCP is our top BUY in the property sector with implied capital gains of 22%.
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Source: Maybank Research - 14 August 2012
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