OCBC is reiterating its “hold” recommendation on Roxy-Pacific with an unchanged fair value estimate of 52 cents.
OCBC says Roxy-Pacific Holdings has carried out its diversification strategy in expanding overseas and increasing its sources of recurring income well.
The bank points to four recent acquisitions by the property firm in Sydney.
Roxy-Pacific plans to continue growing in Australia as it believes the market is stable and well regulated with attractive supply-demand dynamics.
The company has also bought housing sites in Singapore, though OCBC expects the market to remain challenging.
Roxy-Pacific closed 2.04% lower at 48 cents.
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OCBC says Roxy-Pacific Holdings has carried out its diversification strategy in expanding overseas and increasing its sources of recurring income well.
The bank points to four recent acquisitions by the property firm in Sydney.
Roxy-Pacific plans to continue growing in Australia as it believes the market is stable and well regulated with attractive supply-demand dynamics.
The company has also bought housing sites in Singapore, though OCBC expects the market to remain challenging.
Roxy-Pacific closed 2.04% lower at 48 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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