Mah Sing a 'buy': AmResearch
Publish date: Tue, 07 Aug 2012, 10:13 AM
AmResearch started property developer Mah Sing Group Bhd with a "buy" rating and fair value of RM3.60 per share, citing its strong balance sheet and bright earnings outlook.
"Mah Sing is set to capitalise on the imminent return of pent-up residential demand; the impact of the responsible lending guidelines has normalised," AmResearch said in a note on Tuesday.
The research house said 90 percent of Mah Sing's development projects are at the early stages of their life cycles which would boost annual pre-sales from RM2.8 billion this year to RM3.3 billion in 2013 and RM4.0 billion in 2014.
"Despite its status as the sixth largest property stock by market capitalisation, Mah Sing is very undervalued from both the earnings and assets standpoint," the research house added.
As of 9.50am, Mah Sing's shares rose 0.41 percent against the Malaysian benchmark stock index's 0.08 percent rise. -- Reuters
"Mah Sing is set to capitalise on the imminent return of pent-up residential demand; the impact of the responsible lending guidelines has normalised," AmResearch said in a note on Tuesday.
The research house said 90 percent of Mah Sing's development projects are at the early stages of their life cycles which would boost annual pre-sales from RM2.8 billion this year to RM3.3 billion in 2013 and RM4.0 billion in 2014.
"Despite its status as the sixth largest property stock by market capitalisation, Mah Sing is very undervalued from both the earnings and assets standpoint," the research house added.
As of 9.50am, Mah Sing's shares rose 0.41 percent against the Malaysian benchmark stock index's 0.08 percent rise. -- Reuters
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alexmichael
In my opinion d prices of hses.in KL hv reached d level beyond d affordability of many. Imagine a dst intermediate unit currently cost rm1m in Tmn.Tun n Bandar Utama. Perhaps, d Govt shud intervene n impose stringent rules to curb over speculation to help d middle income n lower income wage earners. In my opinion in civil service a Division 1 officer aftr 30 years in service earns rm7k. Jz my indi opinion. Tq.
2012-08-11 08:37