DBS points out that there’s a time lag of three to six months before revenue from transactions are booked. As such, DBS is expecting a slower 2HFY2022 for APAC Realty. (Picture: Samuel Isaac Chua/The Edge Singapore)SINGAPORE (EDGEPROP) - DBS Group Research has kept its “hold” call on APAC Realty with an unchanged target price of 67 cents, following a slight earnings dip reported by the property agency for its 1HFY2022.Read also: Banyan Tree kept at 'accumulate' by Phillip on higher property sale
DBS notes that the Singdollar has appreciated against the RMB by around 5% this year.
“We do not believe the group would have the appetite for sizable M&A in the medium term.”