Bursa Malaysia Stock Watch
APM up on AmResearch's 'buy' call
kltrader
Publish date: Wed, 07 Jul 2010, 12:46 PM
kltrader
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KUALA LUMPUR: APM AUTOMOTIVE HOLDINGS BHD [] (APM) share price advanced on Wednesday, July 7 after AmResearch affirmed its "buy" rating on the stock and maintained its fair value of RM5.40 a share.
At 9.15am, APM was up 13 sen to RM4.20 with 24,100 shares done.
The research house said that Nissan Motor Indonesia has announced plans to invest over US$20 million (RM64.2 million) to expand its existing plant in Indonesia.
APM is a key beneficiary of Nissan Motor Indonesia's aggressive expansion plans given its status as a Tier-1 supplier to Nissan Motor Indonesia's via its 50% stake in the JCI-Armada-APM consortium, it said.
At 9.15am, APM was up 13 sen to RM4.20 with 24,100 shares done.
The research house said that Nissan Motor Indonesia has announced plans to invest over US$20 million (RM64.2 million) to expand its existing plant in Indonesia.
APM is a key beneficiary of Nissan Motor Indonesia's aggressive expansion plans given its status as a Tier-1 supplier to Nissan Motor Indonesia's via its 50% stake in the JCI-Armada-APM consortium, it said.
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