Our website is made possible by displaying non-intrusive online advertisements to our visitors.
Please consider supporting us by disabling or pausing your ad blocker.
We have lowered our fair value to RM1.26 per share from RM1.31 based on a target yield of 7% over its FY23 distributable income. We increase our target yield to 7% from 5% as we factor in the loss of time value of money.
We believe the stock is oversold and see the recent selldown as a buying opportunity. At its current price, the stock offers a potential upside of over 50% and decent dividend yield of 4.1%, 5.3% and 10.2% for FY21–23 respectively.
Absolutely no hurry to buy back. Even when the vaccine is ready, it will take at least 2 years to recover. And we have yet to start the countdown to vaccine. With so many unknown, the risk is very high even at medium term.
Checking-out from FY21-22
4QFY20 results came in above our expectations with FY20 core net profit at 131%/122% of our/consensus’ estimates. Final interim gross DPU of 2.8sen was also declared (6.7sen in FY20 at 90% DPR). However, we turn near-term negative on its rental variation adjustments which came in as a surprise. We cut our gross DPU by 52-55%. Our new DDM-TP is MYR0.90 (Ke: 8.7%). tak syiok jangka pendek meskipun bukan bagi free rental, Maybank ramalkan ~18% upside from current price :)
yukata tong, risk/reward have nothing do to with quantity/amount bought/sold. I think you are referring to money management or asset allocation. Don't mix them up. it is different thing
loke. when buy in big qty, there will be no extra capital to average down or able to cutloss. risk management can lower down the risk and higher chance to profit
