Friday, August 13, 2010
ARA
ARA Asset Mgmt: CIMB upgrades to Outperform from Trading Buy and raise TP to $1.35 citing outlook for REIT looks increasingly positive as the impending launch of the US$1bon Asia Dragon Fund II would significantly enlarge its recurrent management fee base. ARA management has said that ADF II fund will launch by 1Q11.
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