United Malayan Earnings Upside ‘Strong’: Hong Leong

(Corrects company name in headline, first paragraph.)

United Malayan Land Bhd. (UML), a Malaysian developer, has “strong” earnings upside as profits from some projects haven’t been factored into its share price, Hong Leong Financial Group Bhd. analyst Sean Lim said in a report today.

Hong Leong has a “buy” call on the stock with a 2.30 ringgit share estimate, the report said. United Malayan was unchanged at 1.30 ringgit at 9:42 a.m. in Kuala Lumpur trading.

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