Monday, December 24, 2012

Wing Tai Malaysia Bhd

Currently not so interested in property stock, but having a different view on Wing Tai Malaysia Bhd, although it is listed under property sector, its business in retail and garment made them look slightly attractive than other property counter, which thinking that Uniqlo brand may have a great potential in the company earning.

Looking around those investment bank research report, 2 of the reports that made by HwangDBS that caught my attention.

On their research highlight on 23rd November 2012 they have a statement on Wing Tai as below,

Wing Tai Malaysia; Fully Valued; RM1.80
Price target: RM1.50 (Under Review); WING MK
Resilient mass residential demand

1QFY13 result in line; stronger quarters ahead with completion of Verticas Residensi. Nobleton Crest launched, Penang mass residential & retail projects will support future earnings. Fully Valued rating and RM1.50 TP under review.

And on the 7th December 2012 it become hidden gem on their research report as below,

Wing Tai; Buy;
Price target: RM2.10 (Prev RM1.50); WING MK

Under-researched and undervalued alternative proxy to Malaysia’s robust retail sales. Resilient Penang mass landed residential sales will cushion slower demand for high-end KL condos. Upgrade to BUY from Fully Valued, with RNAV-based TP raised to RM2.10.
Source: HwangDBS Research - 07 Dec 2012

Anyway it should be consider quite defensive during current uncertainty environment. 

Graph Source: Chart Nexus

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