MY : UEM Sunrise Bhd - Better outlook in 2H21F

1Q21 core net loss came in at RM4.4m. We deem the results in line as we expect a stronger 2H21F due to a pick-up in construction progress. 1Q21 new property sales stood higher at RM271.7m, and we gather sales momentum in Apr and May was encouraging due to HOC. Reiterate Add.

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