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Expecting a better 4Q21

■ 9M21 core net profit was above expectations due to higher-than-expected gross margin arising from cost savings from its projects.
■ New property sales came in at RM1.1bn as of 22 Nov 21, representing 92% of its FY21F sales target of RM1.2bn. Reiterate Add with TP of RM0.58.

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