Sunrise Berhad

Analysts called for a 'buy' with a target price of RM4.60 for Sunrise. It is now trading at RM3.28, representing a potential 40% upside - quoted by The Edge.
Property sector is set to perform after the exemption of RPGT and recent positive measures annoounced by the goverment.
Sunrise is the major developer for Mont Kiara where they bought cheap landbank at Segambut due to they are the advantage of first-mover at the area. Its land cost is estimated at RM41.30 per sq ft. vs market price of RM300 per sq ft.
Besides that, they have built a very strong brand name for themselves. This is proven where 40% of its buyers are repeat buyers - those who have purchased Sunrise homes before. This is a very good indication as the repeat sales indicates that buyers are confident with the projects developed by Sunrise. Quality is certainly there to attract repeat buyers.
Take-up rate for projects is very high as well, with at least 70% for its latest project - 10@ Mont Kiara, has already exceeded 80% sales.
Personally, I still prefer those property stocks that have been delivering good results instead of IDR theme counters. My top three preferences are Sunrise, E&O and Mah Sing.