Dow Heng Securitis the rating of maintains Sino Land ¡§hold¡¨

After meeting with the managing team of Sino Land (0083), Dow Heng Securities maintained the rating of the company at ¡§hold¡¨ and expected its price/earnings ratio in 2002 to be 18.4 times. Compared with the discount of current price/net asset value of 56% and the previous standards, the stock price was still high and only if the stock price retreated to HK$2.5 and selling the properties could bring abundant profit, stimulating the profit in 2002 to upturn, the fund house would consider upgrading its rating to ¡§buy¡¨. Moreover, the fund house upgraded the profit forecast of the company in 2001 by 55% from HK$573mln to HK$887mln and downgraded its profit forecast in 2002 by 2% to HK$644mln.

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