PETALING JAYA: Property group Mah Sing Group Bhd
’s fast “turnaround” strategy coupled with expectations that its financial year ended Dec 31,2020 (FY20) will be a “bottomed” year are two factors that it has going for it, according to one research house.
In a report to clients, Hong Leong Investment Bank analyst Ng Jun Sheng said he liked Mah Sing due to its “fast turnaround” strategy that enables it to crystalise on land value, generate strong cash flows within a short period and generate lower upfront costs.
“As Mah Sing offers exposures to property and the glove manufacturing businesses, the group is expected to ride on an earnings rebound from its property division and a new stream of glove earnings amid sustainable demand from the permanent structural shift in hygiene awareness, ” Ng said.
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