by NST BusinessKUALA LUMPUR: There will be a negligible impact on Mah Sing Group Bhd from Cabinet’s decision to freeze approvals of new shopping malls, offices and luxury condominiums priced above RM1 million, CIMB Research said. The firm said the freeze will have a minimal impact on Mah Sing as most of its products are less than RM600,000 per unit and both have limited exposure in offices and retail space. In Bank Neagara Malaysia’s latest quarterly bulletin last Friday, it highlighted the decade-high level of unsold residential properties (130,690 unsold units in first quarter (Q1) 2017 versus 72,239 average unsold units in 2014 to 2016). CIMB has maintained its “add” call on Mah Sing with a target price of RM1.85. “We believe Mah Sing has regained its appetite for landbanking after a hiatus of more than two years.

Source: New Strait Times November 20, 2017 05:15 UTC