Company Reviews ~ November 2012

Adventa Bhd (7191) ~ current price @ 1.94
Sept 2012 - CIMB Equities Research ~ target price 2.10

Affin Holdings Bhd (5185) ~ current price @ 3.34
Nov 2012 - Alliance Research ~ target price 3.93

Airasia Bhd (5099) ~ current price @ 2.67
Sept 2012 - RHB Research Institute ~ target price 3.63
Sept 2012 - CIMB Research ~ target price 3.50
Sept 2012 - Affin Investment Research ~ target price 3.70

Oct 2012 - RHB Research Institute ~ fair value 3.63
Oct 2012 - OSK Research ~ fair value 3.91

Nov 2012 - CIMB Equities Research ~ target price 3.50
Nov 2012 - RHB Research Institute ~ fair value 3.61
Nov 2012 - Kenanga Research ~ target price 3.07
Nov 2012 - MIDF Research ~ target price 3.84

Alliance Financial Group Bhd (2488) ~ current price @ 4.23
Sept 2012 - Hong Leong Investment Bank Research ~ target price 4.53

AMMB Holdings Bhd (1015) ~ current price @ 6.48
Nov 2012 - CIMB Equities Research ~ target price 6.83

Astro Malaysia Holdings Bhd (6399) ~ current price @ 2.95
Nov 2012 - JP Morgan ~ target price 3.00
Nov 2012 - Maybank Research ~ target price 3.70
Nov 2012 - CIMB Research ~ target price 3.30
Nov 2012 - Goldman Sach ~ target price 3.20

Axiata Group Berhad (6888) ~ current price @ 6.51
Sept 2012 - Hwang DBS Vickers Research ~ target price 5.80
Sept 2012 - Alliance Research ~ target price 6.84
Sept 2012 - Kenanga Research ~ target price 6.33
Sept 2012 - Affin Investment Research ~ target price 5.08
Sept 2012 - Nomura ~ target price 7.10

Berjaya Sports Toto Bhd (1562) ~ current price @ 4.44
Sept 2012 - RHB Research Institute ~ target price 4.55

BIMB Holdings Bhd (5258) ~ current price @ 2.89
Sept 2012 - CIMB Equities Research ~ target price 3.78
Sept 2012 - Kenanga Research ~ target price 3.60

Carlsberg Brewery Malaysia Bhd (2836) ~ current price @ 12.82
Oct 2012 - RHB Research Institute ~ fair value 12.40

Nov 2012 - Kenanga Investment Research ~ target price 14.10
Nov 2012 - Maybank KE Research ~ target price 13.50

CB Industrial Product Holding (7076) ~ current price @ 2.70
Sept 2012 - OSK Research ~ target price 3.28

CIMB Group Holdings Bhd (1023) ~ current price @ 7.58
Nov 2012 - CIMB Equities Research ~ fair value 8.70

Crest Builder Holdings Bhd (8591) ~ current price @ 0.845
Sept 2012 - Kenanga Investment Research ~ target price 1.34

Daibochi Plastic & Packaging (8125) ~ current price @ 2.47
Oct 2012 - RHB Research Institute ~ fair value 2.91

Dialog Group Bhd (7277) ~ current price @ 2.41
Sept 2012 - CIMB Equities Research ~ target price 2.91
Sept 2012 - Affin Investment Research ~ target price 2.76.

Nov 2012 - CIMB Equities Research ~ target price 3.00

Dijaya Corporation Bhd (5401) ~ current price @ 1.03
Oct 2012 - ECM Libra Investment Research ~ target price 1.57

Digi.com Bhd (6947) ~ current price @ 5.04
Sept 2012 - Affin Investment Research ~ target price 4.75

Fajarbaru Builder Group (7047) ~ current price @ 0.655
Nov 2012 - RHB Research Institute ~ fair value 0.71

Felda Global Ventures Holdings Bhd (5222) ~ current price @ 4.60
Sept 2012 - Hwang DBS Vickers Research ~ target price 5.05

Gamuda Bhd (5398) ~ current price @ 3.64
Sept 2012 - OSK Research ~ fair value 4.46
Sept 2012 - TA Securities ~ target price 4.32

Gas Malaysia Bhd (5209) ~ current price @ 2.58
Sept 2012 - Kenanga ~ target price 2.94

Nov 2012 - HwangDBS Vickers Research ~ target price 2.95
Nov 2012 - CIMB Equities Research ~ target price 3.07
Nov 2012 - MIDF Research ~ target price 3.11
Nov 2012 - Affin Investment Bank ~ target price 3.00

Genting (3182) ~ current price @ 9.29
Nov 2012 - CIMB Equities Research ~ target price 10.90

Hartalega Holdings Bhd (5168) ~ current price @ 4.85
Sept 2012 - CIMB Research ~ target price 5.01

Nov 2012 - CIMB Equities Research ~ target price 5.66
Nov 2012 - MIDF Research ~ target price 5.10

Hong Leong Bank (5819) ~ current price @ 14.76
Nov 2012 - Hwang DBS Vickers Research ~ target price 17.00

Hua Yang Bhd (5062) ~ current price @ 1.54

Sept 2012 -TA Securities ~ target price 2.63

Hunza Properties Bhd (5018) ~ current price @ 1.51

Sept 2012 - Kenanga Investment Research ~ target price 1.50

IJM Corporation Bhd (3336) ~ current price @ 4.93
Sept 2012 - RHB Research Institute ~ fair value 4.73
Sept 2012 - TA Securities ~ target price 5.77
Sept 2012 - Hong Leong Investment Research ~ target price 5.48
Sept 2012 - Credit Suisse Research ~ target price 7.10
Sept 2012 - CIMB Equities Research ~ target price 5.30

Oct 2012 - CIMB Equities Research ~ target price 5.50

IJM Land Berhad (5215) ~ current price @ 2.03
Sept 2012 - RHB Research ~ fair value 2.89
Sept 2012 - Kenanga Investment Research ~ target price 2.60

IOI Corporation (1961) ~ current price @ 4.97
Nov 2012 - Public Investment Bank Research ~ target price 5.59
Nov 2012 - Kenanga Research ~ target price 4.70

Ireka Corp (8834) ~ current price @ 0.68
Nov 2012 - Affin Investment Research ~ target price 1.06

JCY International Berhad (5161) ~ current price @ 0.65
Oct 2012 - Kenanga Investment Research ~ target price 0.85
Oct 2012 - OSK Research ~ target price 0.88

JT International (2615) ~ current price @ 6.63
Nov 2012 - CIMB Equities Research ~ target price 7.00

KFC (3492) ~ current price @ 3.96
Nov 2012 - RHB Research Institute ~ target price 4.00

KLCC Property Bhd (5089) ~ current price @ 6.18
Nov 2012 - HwangDBS Vickers Research ~ target price 6.90

KL Kepong (2445) ~ current price @ 21.32
Nov 2012 - Kenanga Research ~ target price 20.00

Kossan Rubber Industries Bhd (7153) ~ current price @ 3.29
Sept 2012 - RHB Research ~ fair value 3.73

KPJ Healthcare Bhd (5878) ~ current price @ 5.56
Sept 2012 - RHB Research ~ fair value 6.86

Latexx Partners Bhd (7064) ~ current price @ 2.09
Oct 2012 - CIMB Equities Research ~ target price 2.30

Lion Industries (4235) ~ current price @ 0.935
Nov 2012 - RHB Research Institute ~ fair value 1.70

MAS (3786) ~ current price @ 0.725
Nov 2012 - Affin Investment Bank Research ~ target price of 0.85
Nov 2012 - Maybank Investment Bank ~ target price 1.20
Nov 2012 - RHB ~ target price 0.83

Mah Sing Group Bhd (8583) ~ current price @ 2.10
Sept 2012 - Kenanga Investment Research ~ target price 2.40

Malaysia Building Society Bhd (1171) ~ current price @ 2.25
Sept 2012 - OSK Investment Banking ~ fair value 3.02

Malaysia Marine and Heavy Engineering  (5186) ~ current price @ 4.46
Nov 2012 - Maybank KE Research ~ target price 5.00
Nov 2012 - Affin Investment Bank ~ target price 4.02

Malaysia Steel Works (KL) Bhd (5098) ~ current price @ 0.85
Sept 2012 - OSK Research Sdn Bhd ~ fair value of 0.83

Malaysian Resources Corp (1651) ~ current price @ 1.54
Sept 2012 - UOB Kay Hian ~ target price 2.03

Oct 2012 - Hwang DBS Vickers Research ~ target price 1.65
Oct 2012 - Affin Investment Research ~ target price 2.71

Maxis Bhd (6012) ~ current price @ 6.56
Sept 2012 - Affin Investment Research ~ target price 6.76
Sept 2012 - Nomura ~ target price 6.20
Sept 2012 - Public Investment Bank ~ target price 7.26

Nov 2012 - Maybank Investment Bank Research ~ target price 6.80

Malayan Banking Bhd (1155) ~ current price @ 9.02
Oct 2012 - CIMB Equities Research ~ target price 11.60
Oct 2012 - Affin Investment Research ~ target price 9.16

Nov 2012 - CIMB Equities Research ~ target price 11.00

Malaysia Building Society Bhd (1171) ~ current price @ 2.25
Nov 2012 - RHB Research ~ fair value 2.60

MISC Bhd (3816) ~ current price @ 4.07
Oct 2012 - CIMB Equities Research ~ target price 4.42

Multi-Purpose Holdings Bhd (3859) ~ current price @ 3.48
Sept 2012 - Public Investment Bank ~ target price 3.79

Oct 2012 - Kenanga Research ~target price 4.31

MSM Malaysia Holdings Bhd (5202) ~ current price @ 4.86
Nov 2012 - CIMB Equities Research ~ target price 4.83

Muhibbah Engineering (5703) ~ current price @ 0.86
Nov 2012 - CIMB Equities Research ~ target price 0.90

Nestle (4707) ~ current price @ 63.98
Nov 2012 - CIMB Equities Research ~ target price 65.36
Old Town Berhad (5201) ~ current price @ 2.01
Sept 2012 - JF Apex Securities Bhd ~ target price 2.23
Sept 2012 - OSK Research ~ fair value 2.31

Parkson Holdings Bhd (5657) ~ current price @ 4.60
Sept 2012 - Public Investment Bank ~ target price 5.73

Nov 2012 - RHB Research ~ fair value 5.32
Nov 2012 - Kenanga Research ~ target price 5.13
Nov 2012 - Affin Investment Bank ~ target price 4.84

Pavilion REIT (5212) ~ current price @ 1.37
Nov 2012 - CIMB Equities Research ~ target price 1.55

Perdana Petroleum Berhad (7108) ~ current price @ 1.00
Sept 2012 - RHB Research Institute ~ fair value 0.82

Perisai Petroleum Teknologi (0047) ~ current price @ 1.08
Sept 2012 - UOB Kay Hian Malaysia Research ~ target price 1.59
Sept 2012 - CIMB Equities Research ~ target price 1.53

Nov 2012 - Maybank KE Research ~ target price 1.40
Nov 2012 - CIMB Equities Research ~ target price 1.57
Nov 2012 - Kenanga Research ~ target price 1.48

Petra Energy Bhd (5133) ~ current price @ 1.63
Nov 2012 - Affin Investment Bank ~ target price 1.95

Petronas Dagangan Bhd (5681) ~ current price @ 22.18
Sept 2012 - CIMB Research ~ target price 24.60

Petronas Gas Bhd (6033) ~ current price @ 18.64
Nov 2012 - Affin Investment Bank ~ target price 16.60

Pharmaniaga Bhd (7081) ~ current price @ 8.11
Nov 2012 - Hong Leong Investment Bank ~ target price 9.17

Pintaras Jaya Bhd (9598) ~ current price @ 3.18
Sept 2012 - OSK Retail Research ~ target price 3.99

Pos Malaysia (4634)  ~ current price @ 3.35
Nov 2012 - Kenanga Research ~ target price 3.90
Nov 2012 - Hong Leong Investment Bank ~ target price 3.20

PPB Group Bhd (4065) ~ current price @ 11.70
Sept 2012 - AmResearch ~ target price 15.90
Sept 2012 - KAF Seagroatt & Campbell Research ~ target price 14.00
Sept 2012 - Hwang DBS Vickers ~ target price 11.00

Public Bank Bhd (1295) ~ current price @ 15.94
Sept 2012 - Maybank Investment Research ~ target price 16.00

Puncak Niaga Holdings Bhd (6807) ~ current price @ 1.27
Sept 2012 - OSK Research Sdn Bhd ~ fair value 2.08

QL Resources Berhad (7084) ~ current price @ 3.09
Sept 2012 - Maybank Investment Bank Research ~ target price 3.75

Oct 2012 - JF Apex Securities Research ~ target price 3.70

Nov 2012 - RHB Research Institute ~ fair value 3.60
Nov 2012 - Nomura Equity Research ~ target price 3.80

RHB Capital (1066) ~ current price @ 7.64
Nov 2012 - Alliance Research ~ target price 8.89

SapuraKencana Petroleum Bhd (5218) ~ current price @ 2.97
Sept 2012 - UOB Kay Hian Malaysia Research ~ target price 2.80
Sept 2012 - Affin Investment Research ~ target price 2.65
Sept 2012 - OSK Research ~ fair value 2.88
Sept 2012 - Hong Leong Investment ~ target price 2.77
Sept 2012 - Kenanga Research ~ target price 2.79
Sept 2012 - Maybank Investment Research ~ target price 2.68

Nov 2012 - CIMB Equities Research ~ target price 2.97
Nov 2012 - Kenanga Research ~ fair value 2.90

SEG International Bhd (9792) ~ current price @ 1.89
Nov 2012 - RHB Research ~ target price to 2.00

Sime Darby Bhd (4197) ~ current price @ 9.14
Sept 2012 - Hwang DBS Vickers Research ~ target price 9.80
Sept 2012 - RHB Research Institute ~ fair value 10.56

Nov 2012 - RHB Research Institute ~ fair value 10.56

Southern Steel (5665) ~ current price @ 1.41
Nov 2012 - Hwang DBS Vickers Research ~ target price of 1.80

SP Setia Bhd (8664) ~ current price @ 3.08
Sept 2012 - CIMB Equities Research ~ target price 4.30
Sept 2012 - Kenanga Investment Research ~ target price 3.80
Sept 2012 - Hwang DBS Vickers Research ~ target price 5.10

Nov 2012 - CIMB Investment Bank Bhd ~ target price 4.30

Sunway Real Estate Investment Trust (5176) ~ current price @ 1.48
Oct 2012 - RHB Research Institute ~ fair value 1.63

Syarikat Takaful Malaysia Bhd (6139) ~ current price @ 5.40
Oct 2012 - OSK Research ~ target price 8.00

Tan Chong Motor Holdings Bhd (4405) ~ current price @ 4.40
Sept 2012 - RHB Research Institute ~ fair value 4.75

Tenaga Nasional Bhd (5347) ~ current price @ 6.93
Sept 2012 - Affin Investment Research ~ target price 6.60
Sept 2012 - CIMB Equities Research ~ target price 7.98

Oct 2012 - AmInvestment Bank ~ target price 8.15
Oct 2012 - CIMB Equities Research ~ target price 8.40

Nov 2012 - CIMB Equities Research ~ target price 8.55
Nov 2012 - Kenanga Research ~ target price 8.05

Telekom Malaysia Bhd (4863) ~ current price @ 5.83
Sept 2012 - Affin Investment Research ~ target price 6.98
Sept 2012 - Public Investment Research ~ target price 6.55

Oct 2012 - CIMB Research ~ target price 6.60
Oct 2012 - Hong Leong Investment Bank ~ target price 5.94

TH Plantations Bhd (5112) ~ current price @ 2.00
Oct 2012 - Maybank IB Research ~ target price 2.45
Oct 2012 - RHB Research Institute ~ fair value 2.10

Time DotCom Bhd (5031) ~ current price @ 3.85
Sept 2012 - HLIB Research ~ target price 4.12

Top Glove Corporation Bhd (7113) ~ current price @ 5.57
Sept 2012 - RHB Research ~ fair value 6.26
Oct 2012 - AmResearch ~ fair value 6.50

TSH Resources Bhd (9059) ~ current price @ 2.14

Sept 2012 - Kenanga Research ~ target price 2.85
18 Sept 2012 - Kenanga Research ~ raised target price 2.95

UEM Land Holdings Bhd (5148) ~ current price @ 2.12
Sept 2012 - Kenanga Investment Research ~ target price 1.85

Nov 2012 - CIMB Equities Research ~ target price 2.42

Unisem (5005) ~ current price @ 0.875
Nov 2012 - CIMB Equities Research ~ target price 0.97
Nov 2012 - Affin Investment Bank ~ target price 1.36
Nov 2012 - Kenanga Research ~ target price 0.99

UMW Holdings Bhd (4588) ~ current price @ 12.04
Nov 2012 - CIMB Equities Research ~ target price 12.00
Nov 2012 - Kenanga Research ~ target price 12.37

UOA Development Bhd (5200) ~ current price @ 1.77
Sept 2012 - Kenanga Investment Research ~ target price 2.30

Wah Seong Corporation Bhd (5142) ~ current price @ 1.73

Sept 2012 - OSk Research ~ fair value 2.33
Sept 2012 - Hong Leong Investment Bank Research ~ target price 2.10

Nov 2012 - Kenanga Investment Research ~ target price 1.99
Nov 2012 - CIMB Equities Research ~ target price 2.59

WCT Bhd (9679) ~ current price @ 2.35
Nov 2012 - Kenanga Research ~ target price 3.17
Nov 2012 - Hong Leong Investment Bank ~ target price 3.31

Yinson Holdings Bhd (7293) ~ current price @ 1.96

Sept 2012 - Kenanga Investment Research ~ target price 2.68

*Please note that above just some quick information. You still need to find out more info about how they calculated their target price.*

The Loft - ZetaPark @ Setapak

Project name:          
The Loft - ZetaPark
Area:                       
Setapak
Developer:               
ZetaPark Development Sdn Bhd 

Type:                      
Condo
Tenure:                   
Leasehold

Price range:             
from RM399,800 to 815,800
Size range:              
from 689 to 1,410 ft2

Price/ft2 range:         
from approx. RM580/ft2
Total Units:
470units
Maintenance fees:
approx. RM0.30/ft2

*Above info @  Dec 2011 

You can get more info from following website:
http://www.fittersgroup.com/CoreBusiness.aspx?id=8
http://www.iproperty.com.my/developments/developmentreview.aspx?pid=2356

The Developer: 

ZetaPark Development Sdn Bhd is a subsidiary of Fitters Diversified Bhd [Website]

Fitters Diversified Bhd is listed on KLSE (since Oct 1994) with a current share price of 0.62.

Location:

Setapak is not far away from KLCC as shown below and it is close to Melawati and Wangsa Maju. 

Google Map

Price:

Compare with Condo development in Setapak:

• Zen Suites @ ZetaPark (same developer) ~ price from approx. RM462/ft2 (price info @ Dec 2010) ~ The Loft - ZetaPark is approx. 26% higher

Compare with Condo development nearby:

• Saville @ Melawati ~ price approx. RM375/ft2 (price info @ Oct 2010) ~ The Loft - ZetaPark is approx. 55% higher

 


My View:

The price/ft2 is approx. 26% to 55% higher than other Condo developments as shown above.

Price/ft2 gone up 26% to 55% in a year time? Is this reasonable? Besides Zen Suites @ ZetaPark is developed by the same Developer. You should go visit these developments to see the difference and find out the reasons.

Total units comparison:

• Zen Suites @ ZetaPark ~ 288 units (Leasehold)
• Saville @ Melawati ~ 408 units (Freehold)
• The Loft - ZetaPark ~ 470 units (Leasehold)

Is it worth to pay more for a leasehold or higher density Condo development?

Based on 90% loan for RM399,800, say BLR6.6%-2.4% = 4.2% interest per annum, for 30 years. The monthly repayment is approx. RM1,759. If you are planning to buy & rent out for investment, you need to take these into consideration:

Will ppl willing to pay more than RM1,759 per month to rent a place in Setapak?

Don't forget the approx. monthly repayment of RM1,759 excludes following items:

a) Maintenance fees (approx. RM207/month)

b) Assessment tax

c) Quit rent

d) Interest rates increased for the loan (this is the main risk as BLR still low at the moment)

Buy & rent market, this is not really a good investment opportunity as you are targeting smaller group of people, eg. expat or people working in Setapak or nearby. For RM1,759+207=1,966/month, you can easily rent a condo nearer to KLCC (even bigger in size too).

For own stay, you might need to wait for a longer time before the price/ft2 go up further. 
Other developments with similar RM/ft2:

• Flexis @ One South at Seri Kembangan
• Avalon II @ USJ Heights by Sime Darby Property
• Sé terra @ PJ by Briswood Sdn Bhd