If you don't like to manage tenant, I think property stock can consider.
Which one is the BEST????
Source: CGS CIMB
I personally like Sime Darby.
Sime Darby Property (CP RM0.47, Add, TP RM0.73)
● We reiterate our Add rating on SD Property, with a higher TP of RM0.73/share,
based on 0.5x FY24F P/BV (vs. -0.5 s.d. of its 5-year mean P/BV previously).
● Our FY23-25F net profit forecast of RM300m-RM400m are largely in line, at
99%/102%/112% of Bloomberg consensus’ forecasts for FY23F/24F/25F.
● SD Property is our top pick in the sector, for its solid FY23F-25F earnings
growth, huge remaining landbank, well-diversified product mix and strong
balance sheet position.
● Downside risks, in our view, include wider-than-expected share of losses from
its Battersea Power Station joint venture, which would drag net earnings and
delay in planned launches — City of Elmina, Putra Heights and Bandar Bukit
Raja amongst others — which in turn would affect sales target and revenue.