This comes despite APAC Realty reporting a 46.8% surge in earnings to $5.9 million for the 1Q18 ended March, on the back of a 56.7% jump in revenue to $105.2 million on higher contributions from real estate brokerage fees and related services amid a residential market recovery.
SINGAPORE (May 30): RHB Research is reiterating its “buy” call on APAC Realty with an unchanged target price of $1.35, after the research house hosted an investor luncheon with the real estate services provider amid “some investor concerns”.
APAC Realty, which owns ERA Realty Network, has seen its share price tumble around 29% since closing at a peak of $1.26 on Mar 9.
