SINGAPORE (Sept 2): CIMB Research is maintaining its “add” call on Guocoland on expectations that overseas income could grow in 2Q16 with residential sales from its projects in China and Malaysia.
In a Friday report, analyst Lock Mun Yee says she sees maiden contributions from 50%-owned Changfeng Residences in Shanghai to materialise from end-CY16.
Lock also expects further sales from its Damansara City project to filter down immediately to the bottomline given that the residential component of the project is completed.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)