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Thursday, February 20, 2014

Tambun Indah, Malton, Global Oriental choice picks for mainland Penang Theme, says RHB Research (EDge)

RHB Research has maintained its Neutral rating on the property sector and said Tambun Indah Land Bhd, Malton Bhd and Global Oriental Bhd remain its top choice for a mainland Penang theme.

In a note Thursday, the research house said development growth in mainland Penang will accelerate with the opening of the Penang Second Bridge in March.

It said the healthy fundamentals in the area will make the property market there less sensitive to additional policies to curb bulk property purchases.

“Opportunities for the sector lie in the small- to mid-cap space.

“Given their sizeable landbank exposure, Tambun Indah Land, Malton and Global Oriental remain our choice for a mainland Penang theme,” it said.

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