Bursa Malaysia Stock Watch

Malaysian Airline System: Maintain Hold - Provisions spoilt the smooth landing

kltrader
Publish date: Thu, 01 Mar 2012, 09:17 AM
kltrader
0 20,407
This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
Provisions, impairment and one-off charges. The 2011 reported net loss of RM2,521m was the biggest in MAS' history. However, stripping out RM1,258m for provisions, impairment and stock obsolescence, the core net loss was RM1,263m (+301% YoY). This was 4% better than our full-year forecast and 4% lower than consensus. We maintain our Hold call with a target price of RM1.55, pegged to 6.0x 2012 adjusted EV/EBITDAR ' on par with Asia Pacific airline peers.

Maybank Research 1 March 2012

Click here for full report
Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment