Friday, April 10, 2015

Affin Hwang Capital Daily Insight (LV) - 10 April 2015 - SUNWAY / JAKS / ECONOMY - ASEAN OUTLOOK


Top Calls

Company Update Sunway (BUY, maintain)

- Acquisition of Winstar

Sunway has proposed to acquire 100% stake in Winstar Trading for an estimated price of RM131m. While the financial impact is minimal (2-3% EPS enhancement), importantly, it marks Sunway
s commitment to continuously enhance the groups value. With effective unbilled sales of RM1.9bn, coupled with the imminent listing of Sunway construction, we maintain a BUY rating and RNAV target price of RM3.90.


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