Sinamars Land - RHB Invest 2016-03-15: Deeply Undervalued
SINARMAS LAND LIMITED A26.SI Sinamars Land - Deeply Undervalued
- Sinarmas Land is our Top Pick to ride on the cyclical recovery in Indonesia’s real estate market.
- We expect its FY16 recurring net profit to rebound by 29% YoY, on the back of higher marketing sales in its township projects in Greater Jakarta, as well as higher rental income.
- The stock, which has under-performed in the last year due to poor investor sentiment towards emerging markets, is deeply undervalued at current levels – its stake in BSD alone is equivalent to its current market capitalisation. Everything else comes free.
:.
No comments:
Post a Comment