SINGAPORE (Oct 31): Tayrona Financial believes Malaysia-based property developer Capital World, formerly known as Terratech Group, has a “compelling upside of almost 300%” amid "improving fundamentals that justify a rerating".

Tayrona, the equity research firm formerly known as NRA Capital, values Capital World at $211 million, or 14.7 cents per share – close to four times the stock’s last closing price of 3.7 cents on Oct 30.

Capital World’s shares are currently trading near its all-time low of 3.5 cents on Oct 15. Since opening at 19.8 cents in its debut on the SGX Catalist board in May last year, its share price has fallen steeply.

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