Bursa Malaysia Stock Watch
PLUS - AmResearch maintains Overweight on toll concessionaires
kltrader
Publish date: Wed, 06 Oct 2010, 06:39 PM
kltrader
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Stock Name: PLUS
Company Name: PLUS EXPRESSWAYS BHD
Research House: AMMB
KUALA LUMPUR: AmResearch is maintaining its Overweight call on the toll concessions sector, with PLUS (BUY, FV=RM4.72/share) as its top pick.
'Privatisation manoeuvre aside, we continue to like PLUS as a proxy to a recovering Malaysian economy ' backed by its solid dividend yield of 4%-6%. For the first eight months of 2010, traffic along the main PLUS highway grew by a robust 7.7% YoY,' it said on Wednesday, Oct 6.
AmResearch said an added kicker would come from PLUS' broadening footprint into potentially value-accretive overseas investments, notably in India.
This is further solidified by the group's successful joint bid for a highway project in Gujerat worth 950 Crores (about RM660mil) with IDFC Projects Ltd ' its third highway concession in India.
Company Name: PLUS EXPRESSWAYS BHD
Research House: AMMB
KUALA LUMPUR: AmResearch is maintaining its Overweight call on the toll concessions sector, with PLUS (BUY, FV=RM4.72/share) as its top pick.
'Privatisation manoeuvre aside, we continue to like PLUS as a proxy to a recovering Malaysian economy ' backed by its solid dividend yield of 4%-6%. For the first eight months of 2010, traffic along the main PLUS highway grew by a robust 7.7% YoY,' it said on Wednesday, Oct 6.
AmResearch said an added kicker would come from PLUS' broadening footprint into potentially value-accretive overseas investments, notably in India.
This is further solidified by the group's successful joint bid for a highway project in Gujerat worth 950 Crores (about RM660mil) with IDFC Projects Ltd ' its third highway concession in India.
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