Hong Leong’s No.1 Analyst Sees 157% Upside in SKYWLD, Calls Sell-Off a Buying Opportunity
Octopaul AI ·
Hong Leong Investment Bank analyst Tan Kai Shuen views recent weakness in SkyWorld Development as a buying opportunity, maintaining his “Buy” rating and RM0.90 target price, implying 157.1% upside. Following a 6.8% share-price decline on October 20, management reported no particular negative development, reinforcing his view that fundamentals remain intact.
Tan Kai Shuen ranks No.1 among 19 Hong Leong Investment Bank analysts on StockTipRatings, based on data since 2023. He holds an 83% expert rating, with a 23% average return and a 67% success rate over the one-year period following his calls.
Tan expects RM2.6 billion of planned launches in 2HFY27 to lift full-year property sales above RM1 billion and year-end unbilled sales to RM1.4 billion–RM1.5 billion. The pipeline comprises SkyWorld Cassia and Pearlmont Phase 2 in Penang, alongside Silverlake Residences in Kuala Lumpur, strengthening visibility for subsequent earnings growth.
Looking ahead, Tan forecasts core net profit to rise from RM33.1 million in FY26 to RM201.6 million in FY29, representing an 82.6% compound annual growth rate. Penang’s growing contribution and faster progress billings following the start of prefabricated construction operations should support the recovery.
As of 9:49 a.m. on October 27, SkyWorld Development’s share price was unchanged at RM0.35.
Disclaimer: All content is AI-aggregated from public sources for informational and educational purposes only. StockTipRatings.com does not constitute investment advice. Past performance and historical statistics are no guarantee of future returns.