LBS Bina Group – A diamond in the rough, according to CIMB report

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LBS Bina Group - A diamond in the rough, according to CIMB report

KUALA LUMPUR, 4 March: Following LBS Bina Group Berhad’s announcement of its Q4 2015 results last week,  CIMB  released its research report. The report highlighted the following:

■LBS defied the weak property market by delivering 55% sales growth in 2015, thanks to its focus on mass-market housing.

■ We think its strong sales will translate into stronger earnings in next few years. We project 32% EPS CAGR in 2015-17. It also offers 7-9% dividend yield in 2016-17.

■ Initiate coverage with an Add rating and target price of RM1.85, based on 40% discount to its RNAV.

■ Strong sales and higher dividends are the key potential re-rating catalysts.

 

To download the full report for free, please click on the link below: 

http://s3-pdf.iproperty.com.my.s3.amazonaws.com/resources/20160302%20LBS%20Bina%20-%20A%20diamond%20in%20the%20rough%20-%20Initiate%20Coverage%20by%20CIMB.PDF


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