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Company Update � WCT Holdings (BUY,
maintain)
- Modified plans WCT�s planned listing of its REIT and construction arm has been delayed due to the extended time needed to meet listing requirements. It only raised RM85m from the exercise of its WCT-WC warrants. The shortfall in cash raised could see WCT issuing new equity via a private placement. WCT is considering the divestment of The Ascent office building and other assets as part of its de-gearing exercise. Short-term concerns could dampen share price performance but long-term prospect remains good. Maintain BUY with RM2.02 target price, based on 10% discount to RNAV.
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| For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports. |
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