Sunway REIT: Maintain Hold - A Good Year

SUNREIT - A Good Year

• Maintain HOLD. SunREIT's FY6/12 results came in as expected,
• accounting for 101-102% of our and consensus estimates.
• Its proposed 7.5sen gross DPU (+14% YoY) for FY6/12 was also in line.
• We tweak our FY6/13-14 earnings forecasts by -2% to -4% whilst raising our target price to MYR1.53 (+13sen). Surprises could come from potential acquisitions, e.g. colleges and a medical centre, from its sponsor.

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Source: Maybank Research - 8 August 2012