Friday, May 31, 2013

(RHB) KSL Holdings Berhad - A Cheap Small Cap Iskandar Play

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KSL Holdings Berhad - A Cheap Small Cap Iskandar Play
2013-05-31 00:19:07.314 GMT

We raise our fair value on KSL to MYR2.65, after we adjust some of our land
value assumptions in RNAV estimate. 1Q13 earnings came in above expectations,
driven by both the property development and investment divisions. Better product
mix and stronger income from the hotel operations have contributed to the
growth. We continue to see value in this small cap Iskandar play. Maintain Buy.

Contributed via: Bloomberg Publisher WEB Service

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-0- May/31/2013 00:19 GMT

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