“Despite this, Amara remains attractive, as it trades at 0.39x P/RNAV,” says RHB analyst Leng Seng Choon.
SINGAPORE (Oct 9): RHB Research is cutting its 2017 net profit forecast for Amara Holdings by 14% after a delay in the expected commencement of operations of Amara Signature Shanghai.
The opening of the Shanghai property, which comprises a 343-room hotel, retail centre and office building, has been pushed back to the fourth quarter of 2017. It had been expected to commence operations in 3Q17.
