Bursa Malaysia Stock Watch
Petronas Chemicals: Maintain Buy - 1Q12: Within expectations
kltrader
Publish date: Tue, 29 May 2012, 11:35 AM
kltrader
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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.
A smooth quarter. PCHEM's 1Q12 net profit of MYR1,019m (+3.3% YoY, +38.6% QoQ) was in-line with our MYR984m expectation but above consensus. It was a smooth quarter for the Company with high plant operational reliability, stable feedstock supply coupled with strong demand from customers. The associates' performance, however, was weak due to soft demand and low prices for its products. Maintain BUY, with an unchanged TP of MYR7.50 on 12x 2013 PER, the industry's historical mean PER.
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Source: Maybank Research - 29 May 2012
Click here for full report
Source: Maybank Research - 29 May 2012
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