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RHB Research starts coverage on Matrix Concepts, fair value RM5

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RHB Research starts coverage on Matrix Concepts, fair value RM5 Empty RHB Research starts coverage on Matrix Concepts, fair value RM5

Post by Cals Mon 06 Jan 2014, 14:36

RHB Research starts coverage on Matrix Concepts, fair value RM5



Business & Markets 2013
Written by theedgemalaysia.com   
Monday, 06 January 2014 09:43
KUALA LUMPUR (Jan 6): RHB Research has initiated coverage on Matrix Concepts Holdings Bhd (MCH) at RM3.55 with a fair value of RM5 and said the stock had become more investible now with a market cap of more than RM1 billion.
In a note Monday, the research house said investors should watch out for MCH’s acquisitions of new land this year that would extend its soon-to-be depleted Sendayan Tech Valley (STV) land, as well as sustain its lofty margin and boost the demand for properties at Bandar Sri Sendayan (BSS).
“Its solid balance sheet provides scope for a generous dividend payout and bonus issue.
“Valuations are undemanding at FY14 P/E of 6x,” it said.
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