<div class=newsTextDataWrapInner>KUALA LUMPUR (Nov 28): CIMB IB Research has downgraded UOA Development Bhd to “Hold” at RM2.15 with a lower target price of RM2.35 (from RM2.84) and said the group’s 9MFY18 core net profit was below expectations due to weaker-than-expected revenue and gross margin.</div>

<div class=newsTextDataWrapInner>In a note Nov 27, the research house said it hence cut its FY18-20F EPS estimates.</div>

<div class=newsTextDataWrapInner>“9M18 new property sales came in higher at RM1.14 billion versus RM924 million in 9M17.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>“We cut target price to RM2.35 on wider RNAV discount of 30%. We downgrade to Hold despite attractive dividend yield, given the uninspiring earnings outlook,” it said.</div>

KUALA LUMPUR (Nov 28): CIMB IB Research has downgraded UOA Development Bhd to “Hold” at RM2.15 with a lower target price of RM2.35 (from RM2.84) and said the group’s 9MFY18 core net profit was below expectations due to weaker-than-expected revenue and gross margin.

In a note Nov 27, the...

CIMB Research downgrades UOA Development, cuts target to RM2.35

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Smart Asia Chemical Bhd, an industrial paint and coating manufacturer, on Thursday has begun taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM37.4 million.&nbsp;

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