Property sector under continued pressure

A major concern was the escalating oversupply situation in both the residential and commercial space, while at the same time, sellers were struggling to secure sales due to the prevailing weak economic environment.

PETALING JAYA: The prospect of prolonged headwinds in the property sector has prompted a research house to revise its rating for three companies, advising investors to trim their exposure following the recent strong rally in equities.

In a series of reports, RHB Research revised its rating on IOI Properties Group Bhd (IOI Prop) to “neutral” from a “trading buy” previously. Similarly, UOA Development Bhd’s stock rating was revised downwards to “neutral” from a “buy”, while UEM Sunrise Group Bhd now carries a “sell” rating from “neutral” previously.