not vested
Media Chinese is sitting on a sizeable land bank at prime locations and significant net cash that constitutes 53 percent of its market cap.
DBS notes that Media Chinese is currently trading at way below its potential break-up value.
Privatisation and asset unlocking exercises could emerge with time for the stock to be re-rated.
In the meantime, investors will be rewarded with a decent net dividend yield of 5-6 percent.
BUY, TP RM0.29; Current share price RM0.22
Source: Aspire