Bursa Malaysia Stock Watch

Multi-Purpose Holdings: Maintain Buy - On The Fast Track To Unlocking Value

kltrader
Publish date: Thu, 24 May 2012, 09:37 AM
kltrader
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Maintain BUY and SOP-based TP of MYR3.95. MPHB has proposed to demerge its gaming and non-gaming businesses into two separate listed entities. Although it will take more time to crystallise the value of MPHB's non-gaming businesses under SPV Capital (versus an outright sale of the non-gaming businesses, the "ideal" situation which will immediately crystalise their values), we believe that this exercise still unlocks value, justifying our BUY call.

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Source: Maybank Research - 24 May 2012
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