NRA Research Report – Recent Strategic Partnerships Strike Even Closer to Home
Excerpt from report:
Overweight
Current Price S$0.145
Fair Value S$0.315
Up/ (downside) 117.2%
Recent Strategic Partnerships Strike Even Closer to Home
On 3 January, Regal announced that it has entered into a conditional off-take agreement with MyAngkasa Bina Sdn. Bhd. (ANGKASA) for the marketing and “underwriting” of 276 residential units of Airtrollis Phase 3 for an aggregate value of about RM90 million. On 12 January, Regal further announced that its subsidiary has successfully raised RM15 million of investment from Malaysian cooperative Koperasi Jayadiri Malaysia Berhad (KOJADI) via the issuance of 8% Redeemable Preference Shares (RPS) of 3.5 years’ tenure.
… Regal may try to strike more of similar deals with ANGKASA and other large scale cooperatives… These deals actually increase the certainty of Regal delivering on its RM1.5 billion GDV of projects and should be a positive for Regal’s share price.
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