SINGAPORE (Nov 14): RHB Research is maintaining its “buy” call on Amara Holdings with an 88-cent target price after the hotel and property group’s 3Q18 results came in line with the research house’s expectations with a net profit of $2.5 million.

In a Wednesday report, analyst Leng Seng Choon says he remains bullish on Amara following its latest set of results, which reflected strong y-o-y revenue growth in the hotel space due to higher topline in the hotel investment & management segment across geographies.

The analyst also sees further improvements from the newly-opened Amara Signature Shanghai’s margins, as Amara targets for the hotel to become net profit positive in 2019.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook