Wait to reap returns from this property developer as major projects near completion

SINGAPORE (March 20): NRA Capital is remaining “overweight” on Regal International Group and giving the stock a fair value estimate of 30 cents, following the group’s recent announcement of its 4Q16 results.

To recap, the property developer from Sarawak posted constant q-o-q revenue of RM35.6 million ($11.2 million), with continuing operations swinging to a net profit of RM0.5 million in the quarter from a loss of RM0.4 million in 3Q16 on improved gross margin.

In a Sunday report, analyst Liu Jinshu says NRA continues to like Regal for its growth potential as its major projects near completion over the next 12 months, which should be conducive for the group’s sales.

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