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RHB cuts APAC Realty target price as it adjusts to new curbs

Samantha Chiew
Samantha Chiew7/13/2018 02:39 PM GMT+08  • 2 min read
RHB cuts APAC Realty target price as it adjusts to new curbs
SINGAPORE (July 13): RHB is maintaining its “buy” call on APAC Realty, but with a lower target price of 77 cents from $1.35 previously.
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SINGAPORE (July 13): RHB is maintaining its “buy” call on APAC Realty, but with a lower target price of 77 cents from $1.35 previously.

This was due to the group’s share price falling by 50% since hitting a peak of $1.28 earlier in March.

In a Thursday report, analyst Vijay Natarajan says, “We believe this is due mainly to two key factors – the listing of its Singapore peer Propnex in July that resulted in investors taking profit and switching out of APAC into Propnex, and the unexpected implementation of property cooling measures that dampened market sentiment.”

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