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RHB Research maintains Buy on Tropicana, ups fair value to RM2.27

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RHB Research maintains Buy on Tropicana, ups fair value to RM2.27 Empty RHB Research maintains Buy on Tropicana, ups fair value to RM2.27

Post by Cals Thu 20 Mar 2014, 09:58

RHB Research maintains Buy on Tropicana, ups fair value to RM2.27
Business & Markets 2014
Written by theedgemalaysia.com   
Thursday, 20 March 2014 08:26

KUALA LUMPUR (March 20): RHB Research has maintained Buy on Tropicana Corporation Bhd with a higher fair value of RM2.27 (from RM2.19) after Tropicana announced the disposal of 308.7 acres of land in Tropicana Aman (or Canal City) to EcoWorld for total consideration of RM471 million.

In a note Thursday, the research house said it was not surprised by this news, as management had indicated its intentions to dispose of some of its landbank as part of its de-gearing exercise.

“Maintain Buy on Tropicana, with a revised fair value of RM2.27 (from RM2.19),” it said.
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