Stock Name: Roxy-Pacific
Company Name: ROXY-PACIFIC HOLDINGS LIMITED
OCBC Investment Research in a Mar 20 research report says: "From the recent URA sales figures for February 2012, we saw that Roxy had a strong month of sales. Their newly launched project at Telok Kurau, Treescape, is now 78% sold at a median price of $1.4K psf.
"Also, sales at Nottinghill Suites, which was previously subdued, picked up with an additional 16% sold in February 2012, and the project is now 60% sold. Moreover, we now believe that Roxy would launch subsequent projects expediently in 1H12, Eon Shenton (70 Shenton Way), Millage (55 Changi Rd) and Natura@Hillview (Hillview Terrace), and would likely achieve positive results.
"We raise our fair value estimate to 62 cents (previously 45 cents) using a lowered RNAV discount of 30%. UPGRADE TO BUY."
Company Name: ROXY-PACIFIC HOLDINGS LIMITED
| Research House: OCBC | Price Call: BUY | Target Price: 0.62 |
OCBC Investment Research in a Mar 20 research report says: "From the recent URA sales figures for February 2012, we saw that Roxy had a strong month of sales. Their newly launched project at Telok Kurau, Treescape, is now 78% sold at a median price of $1.4K psf.
"Also, sales at Nottinghill Suites, which was previously subdued, picked up with an additional 16% sold in February 2012, and the project is now 60% sold. Moreover, we now believe that Roxy would launch subsequent projects expediently in 1H12, Eon Shenton (70 Shenton Way), Millage (55 Changi Rd) and Natura@Hillview (Hillview Terrace), and would likely achieve positive results.
"We raise our fair value estimate to 62 cents (previously 45 cents) using a lowered RNAV discount of 30%. UPGRADE TO BUY."
No comments:
Post a Comment