Bursa Malaysia Stock Watch

This site 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.

Wednesday, August 29, 2012

Sunway Bhd: Upgrade to Buy - Selldown Overdone

An overdone hammering. 1H12 results were below expectations. However, earnings should pick up in 2H on stronger work progress (construction) and investment properties performance. We lower our earnings forecasts by 2-6% p.a. but raise TP to MYR2.68 (+6sen; 40% discount to MYR4.46 RNAV).
Sunway currently trades at 7.1x FY13PER and a 50% discount to RNAV. We believe the stock selldown brought about by slower property sales is overdone. Upgrade to BUY.

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Source: Maybank Research - 29 August 2012

Bursa Malaysia Stock Watch

Wednesday, August 29, 2012

Sunway Bhd: Upgrade to Buy - Selldown Overdone

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