The analyst also sees further improvements from the newly-opened Amara Signature Shanghai’s margins, as Amara targets for the hotel to become net profit positive in 2019.
SINGAPORE (Nov 14): RHB Research is maintaining its “buy” call on Amara Holdings with an 88-cent target price after the hotel and property group’s 3Q18 results came in line with the research house’s expectations with a net profit of $2.5 million.
In a Wednesday report, analyst Leng Seng Choon says he remains bullish on Amara following its latest set of results, which reflected strong y-o-y revenue growth in the hotel space due to higher topline in the hotel investment & management segment across geographies.
