Bursa Malaysia Stock Watch

Perdana Petroleum: Maintain Hold - For sale: 27% stake in Petra Energy

kltrader
Publish date: Fri, 27 Apr 2012, 09:10 AM
kltrader
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Clean, restructure, merge? Perdana's proposal to sell its entire stake in Petra Energy (PE) is widely expected but it would require a reasonable price for it to exit. The deal would be instrumental to cleaning up its financials and operations, which would subsequently attract potential suitors for a leaner, more focused Perdana. Until then, Perdana remains a Hold, with a MYR0.83 target price (0.8x PBV).

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Source: Maybank Research - 27 April 2012
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