Switch out of Frasers Centrepoint Limited to this undervalued stock, recommends Lim & Tan

SINGAPORE (Sept 12): Lim & Tan Securities is recommending that investors switch from Frasers Centrepoint Limited (FCL) to UOL Group, given the latter’s cheaper price-to-book valuation (PB/V) of 0.78 times.

This is because FCL’s share price has risen about 13% since the research house’s “buy” recommendation in June 2017, and is currently trading at 0.91 times book, explains Lim & Tan’s research team in an update issued on Tuesday.

The group, which closed 1 cent lower at $2.12 on Monday, recently announced that it intends to acquire four income-producing business parks in the UK for a purchase consideration of £686 million ($1.2 billion).

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