Bursa Malaysia Stock Watch

Lingkaran Trans Kota Holdings: Maintain Hold - Higher Amortisation Hits Bottom Line

kltrader
Publish date: Thu, 24 May 2012, 09:41 AM
kltrader
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Losses in the final quarter. As forewarned, 4QFY3/12 results fell short of our expectations, with a net loss of MYR19m for the quarter due to higher amortisation of highway development expenditure after the latest toll revenue projections by the independent consultants. This spike in amortisation is a one-off P&L item in FY3/12 and as such, we leave our FY3/13-14 earnings forecasts and DCF projections unchanged. Our MYR4.30 TP is DCF-derived.

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Source: Maybank Research - 24 May 2012
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