Malaysia’s top-performing fund is buying the nation's property companies after a slump in shares left valuations at their cheapest level in at least seven years relative to global peers.
Eastspring Investments Bhd has started “nibbling” on some of the stocks that have been beaten down on the prospect the real-estate industry will eventually recover, Chen Fan Fai, the Kuala Lumpur-based chief investment officer, said in an interview.
He declined to identify the companies he's buying. The Bursa Malaysia Property Index is valued at 8.9 times 12-month projected earnings, a 32% discount to the Bloomberg World Real Estate Index.
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Eastspring Investments Bhd has started “nibbling” on some of the stocks that have been beaten down on the prospect the real-estate industry will eventually recover, Chen Fan Fai, the Kuala Lumpur-based chief investment officer, said in an interview.
He declined to identify the companies he's buying. The Bursa Malaysia Property Index is valued at 8.9 times 12-month projected earnings, a 32% discount to the Bloomberg World Real Estate Index.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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