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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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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