KUALA LUMPUR: The worst is over for Malaysia’s property, with major impairment on unsold inventories having been mostly done over the last nine months.
Maybank Investment Bank Bhd (Maybank IB) said hence, positioning the sector for recovery is in line with better economic outlook in 2021.
“In our view, the undemanding sector valuations of 0.4xPBV/0.3x PRNAV should have more than priced in the negatives.
“We turn less risk averse towards the sector and upgrade the beaten-down stocks — Eco World Development, Sime Darby Property — to ‘buy’ call,” the research house said. – Bernama
