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OSK Research: Maintain trading buy on MRCB |
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Business & Market 2010
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Written by OSK Research
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Tuesday, 09 February 2010 08:39 |
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KUALA LUMPUR: OSK Research is maintaining its Trading Buy on MRCB with a target price of RM1.54 (ex-rights), based on sum-of-parts valuation.
The research house said on Tuesday, Feb 9 that MRCB, with its KL Sentral project due for completion in a few years, it is crucial for MRCB to formulate a new strategy in order to continue its legacy in the property sector.
OSK Research said it is widely known that MRCB is eyeing several land parcels belonging to the Federal Government as part of its landbank replenishment strategy and the company’s recent rights issue could be an indication that MRCB is close to sealing the deal.
"Although there is no firm timeframe on the deal, we believe the potential land acquisition could be a positive catalyst for the stock price," it said.
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Last Updated on Tuesday, 09 February 2010 08:41
