Last August, the company launched its 26-acre Johor Bay integrated project within the Johor-Singapore Special Economic Zone, which is estimated to have a gross development value of RM18 billion.
Eric Ong of Maybank Securities has kept his "hold" call on Thomson Medical, citing how near-term headwinds persist for the company's existing hospital operations.
However, with an eye on its landbank in Johor that is seen to be fetching a richer underlying value estimated by Ong at $1.44 billion, he has raised his target price from 4.7 cents to 6.2 cents.
