AmInvest Research said Rehda shared its view on the government’s reduction of the threshold for foreigners to purchase urban high-rise properties from RM1mil to RM600,000. However, this is also subject to the agreement by state governments on the quantum of change. So far, only the Penang state government has responded but the threshold was set at RM800,000 instead of RM600,000.
KUALA LUMPUR: AmInvestment Research is maintaining its Neutral view on the property sector as it does not anticipate earnings surprises in the short to medium term.
It said on Tuesday its top picks for the sector are: (1) Sunway Bhd
(Buy, FV: RM2.03) as its local and overseas property launches have been generally well received due to good locations and diversified income base; and (2) IOI Properties Group (Buy, FV: RM1.73) which is banking on a strong contribution from its property development projects, particularly in China and Singapore.
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