NST Online Business Times : latest

Posted: 01 Apr 2013 06:47 PM PDT

RHB Research raised its target price on the shares of UOA Development Bhd to RM2.60 from RM2.21 as it expects the company to benefit from stronger property sales and land acquisitions this year.

RHB said it expects UOA's 2013 sales to improve to RM2 billion from RM1.7 billion last year as the company's brand image, pricing, locations and marketing would drive take-up rates.

In a report published on Tuesday, RHB also said new land buys could add up to RM2 billion in gross development value to UOA's portfolio.

"Their solid cash position will come in handy. We understand that UOA has been busy replenishing its landbank, with key focus within the Klang Valley area," the brokerage added.

It maintained a 'buy' call for the stock, which was also named the top sector pick along with Sunway Bhd and IJM Land Bhd.

Shares of UOA rose 0.5 per cent to RM2.03 as of 9.19 am, compared to the benchmark index which gained 0.13 per cent.-- Reuters

Short-term rates to remain stable Tuesday

Posted: 01 Apr 2013 06:58 PM PDT

Short-term interbank rates are expected to remain stable on Tuesday as Bank Negara Malaysia intervenes to absorb excess
liquidity from the financial system.

The central bank has estimated today's liquidity at RM31.101 billion in the conventional system and RM11.283 billion in Islamic funds.

Bank Negara will call for a RM6 billion range maturity auction for two to 91 days and a RM100 million Commodity Murabaha Programme for 30 days.

The central bank will also conduct four Al-Wadiah tenders, comprising RM500 million for 21 days, RM1.5 billion for 28 days as well as two RM2 billion programmes for seven days and 14 days.

At 4pm, Bank Negara will conduct a conventional overnight tender for up to RM25.1 billion and a RM5.4 billion Al-Wadiah overnight tender.-- Bernama

Kredit: www.nst.com.my

Isnin, 1 April 2013

NST Online Business Times : latest

NST Online Business Times : latest

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