UEM Land's closing price yesterday was 2.28.
And then I saw this stange article from the EdgeMalaysia. It said HDBSVR sees upside for UEM Land and the TP is rm 2.30!
I went... huh????
UEM Land last traded at 2.28 woh...
TP at 2.30???
Is HDBSVR going bonkers??? Or is the EdgeMalaysia goofing up?
Here's the article: http://www.theedgemalaysia.com/business-news/198913-hdbsvr-sees-upside-for-uem-land-tp-rm230.html
- HDBSVR sees upside for UEM Land, TP RM2.30
Written by theedgemalaysia.com
Friday, 06 January 2012 09:11
KUALA LUMPUR (Jan 6): Hwang DBS Vickers Research (HDBSVR) sees the successful talks between the governments of Malaysia and Singapore as a strong boost to the prospects of Iskandar Malaysia.
The research house said on Friday that Iskandar Malaysia is expected to reach its tipping point in 2012 following the completion of key catalyst developments and infrastructure improvements.
The industrial cooperation work group may serve as a springboard for more investments from Singapore into Iskandar Malaysia which has received RM77.8 billion worth of committed investments as at Dec 2011.
HDBSVR said UEM Land will be the largest beneficiary of improving Malaysia-Singapore ties given that it is the largest landowner in Iskandar Malaysia with 11,000 acres in Nusajaya.
UEM Land is also the project manager for the M+S Pte Ltd developments (S$11bn) in Singapore. Assuming project management fee of 3% of GDV and a 50% share, it could boost UEM Land’s RNAV by an additional 1.3% or 5 sen/share.
“Maintain Hold call for UEM Land with RM2.30 TP, based on 40% discount to RNAV of RM3.82,” it said.