Bursa Malaysia Stock Watch

MISC: Maintain Sell - Challenges abound

kltrader
Publish date: Thu, 23 Feb 2012, 09:46 AM
kltrader
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Maintain Sell with a RM5.70 TP, based on a 20% discount to SOP valuations. Results missed our forecast and consensus on a weak final quarter performance. We cut 2012-13 forecasts by 18% each on the back of a poor outlook for the petroleum, chemical and liner businesses over the next 24 months. While the share price has fallen 21% QoQ, a re-rating is still not on the table considering its negative prospects.

Maybank Research 23 Feb 2012

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