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Monthly Archives: August 2009

OSK upgrading property recommendation to neutral

Posted on 27 Aug 2009 | Comments Off

OSK Research is upgrading its recommendation on property sector to neutral from underweight in view of the possibility of certain investors having already bought into 2010 valuations.

‘Despite the upgrade, we still believe that a moderate correction in property stock prices is inevitable in the short term,’ it said in its research note here yesterday.

As most of these stocks are already trading close to their 2010 fair value anyway, the current risk-reward ratio appears to be unfavourable and as such investors are generally advised to accumulate only after a meaningful price correction, it added.

‘The rally in property stocks from the March 2009 lows caught us by surprise as we had initially thought that such a rally would only take place in early 2010 when the market would be likely to aggressively accumulate property stocks 12 months ahead of the 2011 upcycle,’ OSK Continue reading →

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Tagged OSK Research, Property Shares, Property Stocks

Regency Hotel eyeing overseas expansion

Posted on 27 Aug 2009 | Comments Off

The operator of Regency Hotel, Regency International Hotel Incorporated Sdn Bhd is planning to expand its hotel network into London, New York, Bangkok, Jakarta and Istanbul, said executive chairman Matshah Safuan.

‘We are still looking at it. It depends on the property market.

We will go for it when the time is right,’ he told Bernama recently.

Established 23 years ago, Regency currently owns nine hotels, of which one is in Bali, three in Sarawak, two each in Kedah and Negeri Sembilan and a newly launched hotel in Kuala Lumpur.

Located strategically in front of the Chow Kit wet market, more than RM100 million (S$40.9 million) has been invested for the new hotel, Mr Matshah said. Continue reading →