Aspen started at ‘Add’ on good margins and strong earnings growth

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SINGAPORE (Sept 29): CIMB is initiating Aspen Group Holdings, the Penang-based property developer, with an “add” rating and a target price of 29 Singaporean cents.

In a Thursday report, analyst Lock Mun Yee says, “Aspen’s key value proposition is its niche in the value-added affordable mass residential market in Penang.”

The group also has a strategic relationship with Ikano as the joint owner of the Bandar Cassia Shopping Centre and joint master developer for...(click on link for full story on