"We believe Sime Darby Property's operating earnings will improve from 4Q20F onwards after the kitchen-sinking exercise and Covid-19 impact this year," RHB Research says.
KUALA LUMPUR: RHB Research is maintaining its Buy call on Sime Darby Property
and a target price of 88 sen, which is 52% above its Wednesday’s closing price of 58 sen, with a 3% yield.
The research said on Thursday Sime Property’s 3Q20 earnings missed expectations, primarily from RM337.1mil write-downs for the Battersea project in London and RM97.8mil impairment on inventories.
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!
