Bursa Malaysia Stock Watch

MISC (Sell): Prospects remain extremely challenging

kltrader
Publish date: Fri, 25 Nov 2011, 11:28 AM
kltrader
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Petroleum prospect is a growing concern. We cut 2011-12 forecasts by 16-21% post weaker-than-expected 2Q results. While the move toexit container business is commercially positive and will stem losses from 2H12, prospects for the petroleum division will be very challengingover the next 24 months. Reiterate Sell with a lower TP of RM5.70, based on higher 20% discount (15% previously) to our SOP valuations.


Maybank research (25 November 2011)

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