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apple developer enterprise account for rent:UEM Sunrise earnings to rebound in FY21

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,KUALA LUMPUR: RHB Research expects an earnings rebound for UEM Sunrise Bhd in FY21 after massive write downs in the previous financial year.The research house, which has a "buy" call on the counter, said earnings are expected to improve while some transactions including the share sale agreement with KLK Land and land sales in Tapah and SiLC are expected to lift FY21-22 earnings.In 4Q20, UEM Sunrise incurred a net loss of RM141mil, mainly owing to a RM56 impairment on a property assets and RM36mil impairment of inventory.The bottomline was further impacted by impairment on JV projects, additional tax assessment of RM9mil and derecognition of deferred tax assets of RM20mil.RHB lowered its target price on the stock to 53 sen, which represents a 17.8% upside on Wednesday's last traded price of 45 sen.
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