Bursa Malaysia Stock Watch

Perdana Petroleum (Hold): A cleaner house

kltrader
Publish date: Tue, 20 Dec 2011, 10:44 AM
kltrader
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Tidying up has begun, but the outlook is still challenging. Cashflows have eased following the refinancing of its RM130m debt, originally due in 2012-13. While this is a positive, the operating outlook remains a challenge. Old vessels continue to drag on earnings, while the direction over its 27% stake in Petra Energy remains unclear. Perdana remains a Hold with an unchanged RM0.70 TP (0.7x P/BV).

Maybank research (20 December 2011)

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