KUALA LUMPUR: RHB Research is downgrading IOI Properties Group
to Neutral from Buy, despite being upbeat on the company’s proposed acquisition of a 37% stake in Taipei 101, saying the deal would take time to digest and adding that it had turned bearish on Malaysia’s property sector.
The target price has been revised down to RM2.63 from RM3.10, which still presents a premium of 24 sen for the stock which last closed trading at RM2.39.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
