It also has a pristine balance sheet with $227 million net cash and attractive valuation at 41% discount to RNAV.
SINGAPORE (Feb 22): Maybank Kim Eng is maintaining its "buy" on Bukit Sembawang given it is a proxy for the cyclical upturn in Singapore’s residential market, adding this under-the-radar mid-cap developer is attractively priced against the large caps.
The earnings of this developer are also expected to rebound in FY19/20 after six years of decline.
