APAC Realty's Transaction Volumes Could Pick Up Slightly -- Market Talk

Dow Jones03-08

0514 GMT - APAC Realty's transaction volumes may pick up slightly this year, RHB Research analyst Vijay Natarajan says in a research report. It has estimated a project pipeline of 34 new launches in 2024 versus 21 in 2023, yielding around 12,000 units this year versus 8,158 units last year, the analyst says. The real-estate services provider's new private-home sales, excluding executive condominiums, and its resale volumes should each grow 10%-15% this year, the analyst adds. However, the company has been investing in technology and overseas markets, which have been a near-term drag on earnings, RHB says. It trims the stock's target price to S$0.44 from S$0.46 with an unchanged neutral rating. Shares are 1.2% higher at S$0.415. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 08, 2024 00:14 ET (05:14 GMT)

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