PETALING JAYA: Integrated financial service solutions provider Rexit Bhd
is expected to record a gain of RM5.1mil after the disposal of a three-storey shoplot, analysts say.
By unlocking the value of the non-core asset, the proceeds will further strengthen the group’s balance sheet and provide financial flexibility for new business opportunities, said TA Research.
As of the end of the second quarter of this year, the group had a net cash position of RM29.7mil with zero borrowings.
TA Research did not make any changes to its earnings forecasts for Rexit for this year to 2027, pending the completion of the disposal. The disposal is expected to be completed by the fourth quarter this year.
Rexit entered into a sale and purchase agreement with Auxano Capital Sdn Bhd for the disposal of a three-storey shoplot, including its fixtures and fittings, for a total cash consideration of RM7.8mil.
The property, with a built-up area of approximately 368.4sq m, is located in Taman Bukit Mayang Emas, Petaling Jaya, Selangor.
TA Research made no changes to its target price of 63 sen a share for Rexit, based on an unchanged price-earnings multiple of 10 times next year’s earnings per share.
The research house also maintained a “buy” call on the stock.
