Property Sector

Below is the research report from HDBS Investment Bank:

The Business Times reported that the government is expected to announce a project to turn Malaysia into an international property destination. The project is believed to be able to bring in RM20b in foreign direct investment within 10 years and help create more jobs.Prime Minister Datuk Seri Abdullah Ahmad Badawi will announce the details soon.
The plan is expected to boost the demand of properties in the country. We are seeing all the positive signals from the government to improve the property sector in the country. Within a space of five months, the government has announced the abolishment of RPGT, relaxation of FIC requirements and improvement the overall efficiency
of the delivery system. We maintain our overweight rating on the sector. We continue to like property developers with a strong brand name that would ensure pricing power and sizable prime landbank focusing on mid to high end properties. Sunrise (TP RM4.65) remains our top pick of the property sector.