Sunday, March 04, 2007
PROPERTY COUNTERS OR REITs
I came across a report by BIZWEEK (The Star) on Saturday saying that:
"Spotlight on property
PROPERTY stocks may see some interest next week in the light of news reports that the Government is seriously considering an industry proposal to abolish the real property gains tax, in order to give the waning property market a shot in the arm.
That the Government is open to that idea may set off some optimism in the property market as well as the economy in general.
A property company that could potentially benefit is Sunrise Bhd. Sunrise has been one of the laggards in the Bursa Malaysia rally – a rally which is currently witnessing a sharp pullback. Yet, it remains one of a few research houses' favourites as far as property counters go."
However, I think that the REITs would also be benefitted if the Government abolish the property tax. So this Monday, watch the REITs counters lor!!
As for me, I'm out of the market.. Chap Ayam Indicators didn't give any buy signal except for ALAQAR however the volume for this counter is to low.