Bursa Malaysia Stock Watch

KNM remains a 'sell' at AmResearch

kltrader
Publish date: Fri, 09 Jul 2010, 03:13 PM
kltrader
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AmResearch has maintained its 'sell' recommendation on KNM Group with an unchanged fair value of RM0.42 per share.

The research firm notes that 'KNM trades at a premium FY10F PE of 15x compared to its peers 10x'.

'We think that this is unjustified given that a major portion of the group's FY10F earnings stem from a Borsig deferred tax writeback,' says AmResearch.
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