Monday, April 11, 2016

Affin Hwang Capital Daily Insight (LV) - 11 April 2016 - APRO

Top Calls

Company Update Amcorp Properties (BUY, maintain)

- Well positioned in Tokyo

We were recently given a tour of AmProp
s Tokyo properties. Located primarily in Roppongi, Shibuya and Shinjuku, the properties are predominantly strategically located and largely within upscale suburbs that have strong development potential. Given also the encouraging macro backdrop, AmProps Tokyo exposure should thus continue to create value for shareholders. While contribution from Tokyo to our SOTP is still small, future investments are likely. AmProp thus makes a good proxy not merely to London, but also the robust Tokyo property segment. Maintain BUY and TP of RM1.53.



For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.

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