We have disposed Puncak for our water takeover play average above RM 3.60. We don’t know it will go up further or stop here. Our objective is clear and achieved. We swapped to MBSB below RM 2.20 and Qcapita around RM 1.16.
MBSB is one of our top pick still hovering around the same valuation. We still like it as it is undervalued and the M&A play continues. The intention of MBSB going towards a banking license in line with realising values from EPF investment. A potential merger with RHB Bank may be in the plan. After all, base on the current market PE, if all these assumption is not going to happen. We will still have a undervalue stock in our portfolio with reasonable dividend.
For Qcapita, the REIT manager continue deliver splendid result. MRCB portfolio injection into Qcapita will provide a strong potential to attract funds. If the management is retain to be managed by current management team. We are confident that Qcapita will have both capital grow potential with growing yield too.