“Sime Darby Property remains our top pick, given its solid balance sheet, strategic land bank located in close proximity to key infrastructure projects, and large land bank to cater for future demand, ” CGS-CIMB Research said in its report.
KUALA LUMPUR: CGS-CIMB Equities Research retained its Neutral oulook on the property sector due to the weak macro outlook, affordability issues and likely lower property sales.
It said on Thursday it retained its neutral outlook even though the KL Property Index was trading at 0.4 times price-to-book value (P/BV), which is two standard deviation below its historical 10-year P/BV of 0.75 times.
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