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Aspen started at 'add' on good margins and strong earnings growth

Samantha Chiew
Samantha Chiew9/29/2017 11:2 AM GMT+08  • 2 min read
Aspen started at 'add' on good margins and strong earnings growth
SINGAPORE (Sept 29): CIMB is initiating Aspen Group Holdings, the Penang-based property developer, with an “add” rating and a target price of 29 cents.
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SINGAPORE (Sept 29): CIMB is initiating Aspen Group Holdings, the Penang-based property developer, with an “add” rating and a target price of 29 cents.

In a Thursday report, analyst Lock Mun Yee says, “Aspen’s key value proposition is its niche in the value-added affordable mass residential market in Penang.”

The group also has a strategic relationship with Ikano as the joint owner of the Bandar Cassia Shopping Centre and joint master developer for the mixed development Aspen Vision City (AV City) in Bandar Cassia, Batu Kawan.

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