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Eco World may challenge existing market leaders

Eco World Development Group Bhd
(May 12, RM4.68)

Initiating coverage with add call and target price of RM8.00: We initiate coverage on Eco World with an “add” call and implied target price of RM8  (ex-rights and warrants target basis of parity with revised net asset value). This provides investors 72% upside.

Construction may level off after impressive 1Q showing

KUALA LUMPUR: Led by the property sector, the value of construction works done in the first quarter of the year grew a sharp 21.2% to RM25 billion —the fastest year-on-year (y-o-y) pace since Q42012 and the highest level since data collection began in 2008. Value of works done grew by a slower 11.3% y-o-y last quarter in contrast.

Eupe to roll out four projects with GDV of RM960m

KUALA LUMPUR: Eupe Corp Bhd plans to roll out at least four projects, two projects each in Selangor and Kedah, with a combined gross development value (GDV) of RM960 million in the current financial year ending Feb 28, 2015 (FY15).