SP Setia’s 2QFY15 (Oct) results came in above our and market expectations, mainly due to the handover of its Tower 1 Fulton Lane. Maintain BUY, with a MYR4.08 TP (21% upside), as valuations will likely be supported by the potential M&A angle. As sales numbers were weakin both Malaysia and London, management has lowered its sales target to MYR4bn from MYR4.6bn for FY15.
Source: RHB Research - 16 Jun 2015
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SPSETIACreated by kiasutrader | Jun 14, 2016
Created by kiasutrader | May 05, 2016