Sunway's share price has lagged behind the strong rally at its unit Sunway Healthcare, suggesting its embedded healthcare value isn't fully reflected, Hong Leong IB analyst Tan Kai Shuen says in a note. With the IJM takeover overhang removed following the official lapse of the offer, he sees scope for a re-rating, allowing the market to better recognize this value. Investor focus is expected to return to Sunway's core fundamentals, supported by strong property sales and healthcare growth, he says. Recent property launches and industrial projects could support solid earnings momentum, he adds. Hong Leong cuts Sunway's target price to 5.54 ringgit from 6.12 ringgit, reflecting dilution from Sunway's reduced stake in Sunway Healthcare. It keeps a buy rating on Sunway. Shares are 1.0% higher at 5.05 ringgit. (yingxian.wong@wsj.com)
Sunway Has Re-Rating Potential as Overhang Clears — Market Talk
Earlier from Sunway
- Sunway's $2.7 billion bid for IJM lapses after failing to meet acceptance condition
- Malaysia's EPF abstains on Sunway's proposed takeover offer for IJM
- Sunway Shareholders Approve Resolution For Proposed Take-Over Offer At EGM
- Sunway Healthcare jumps 28% on debut after Malaysia's biggest IPO in almost a decade
- Sunway Healthcare Posts QTRLY Profit Attributable 112.4 Million RGT
Later from Sunway
- Sunway Bhd Says Sunway Property (Australia) Deregistered On 6 April 2026
- Johor Properties Likely Gaining on Special Economic Zone Catalyst — Market Talk
- Sunway Healthcare Growth Outlook Largely Priced In — Market Talk
- Sunway Says URA Singapore Awarded 11,516 Sqm Land At River Valley Green
- Sunway Redesignates Abdul Wahid Bin Omar As Independent And Non Executive Co-Chairman
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