Regal International started at 'buy' with 52 cents target price by NRA Capital

Stock Name: Regal Intl
Company Name: REGAL INTERNATIONAL GROUP LTD.

Research House: NRA Capital

Price Call: BUY

Target Price: 0.52

SINGAPORE (June 18): NRA Capital has initiated coverage on Malaysian developer Regal International Group, with a "overweight" call and fair value of 52 cents.

Regal entered the Singapore market via the reverse takeover of precision parts maker Hisaka Holdings back in Oct 2014, which remains in operation even after the $20 million deal.

The company, now 65.5% owned by executive chairman and CEO Su Chung Jye, focuses on property development Kuching, the East Malaysian state of Sarawak.