KUALA LUMPUR (Jan 12): Hong Leong IB Research is recommending investors accumulate Sunway Construction Group Bhd and said this was due to its undemanding at 12.7x FY17 P/E (about 13% lower than its peers), supported by superb FY17 ROE of 23.6% (peers: 9.7%), netcash of RM199 million or 15sen per share and strong orderbook of RM4.3 billion.

In a note today, the research house said a decisive breakout above RM1.39 will spur prices higher towards RM1.45-1.59 targets.

“Cut loss at RM1.25,” it said.