0210 GMT - Sunway's outlook is supported by its strategic presence in the fast-growing healthcare sector and its position as a key beneficiary of the Johor-Singapore Special Economic Zone, TA Securities analyst Thiam Chiann Wen says in a note. Despite a 20% share-price gain in the past three months, she anticipates further upside leading up to Sunway Healthcare Group's impending IPO, which is likely to occur by early 2026, ahead of the 2027 deadline agreed with 16% shareholder GIC. The healthcare unit's IPO could also result in share distributions or special dividends, as seen with the prior spinoff of its construction unit, she reckons. TA Securities raises Sunway's target price to MYR5.60 from MYR4.76, while maintaining a buy rating on the stock. Shares are 1.6% lower at MYR4.82. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
November 27, 2024 21:10 ET (02:10 GMT)
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