Visit Note
- Mah Sing has three projects that are strategically positioned to benefit from the Government’s MRT network. These are Star Avenue (Sg Buloh station), Icon Mont’ Kiara (Matrade station) and M Suites (Great Eastern mall station). Take-up rate for Icon MK (Block 1) and M Suites is impressive at around 70-75%.
- We believe Mah Sing is likely to acquire at least another piece of land before the end of this year. Besides that, the larger piece of >100-acre is still pending, and Mah Sing has proposed the issuance of RM325m convertible bond to fund its acquisitions.
RHB Equity 360° - 14 October 2010 (Mah Sing; Technical: Inch Kenneth)
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