Bursa Malaysia Stock Watch
Multi-Purpose Holdings: Downgrade to Hold - Details Of Demerger Released
kltrader
Publish date: Thu, 16 Aug 2012, 10:17 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.
- Take a breather. Last night's details of MPHB's plans to demerge its non-gaming from its gaming businesses, to be completed by 1H13, were not totally unexpected.
- MPHB current shareholders would receive MYR0.49/shr capital repayment and they can subscribe for 1 MPHBC share for every 2 MPHB shares held at low valuations.
- With MPHB share price already trending very close to our TP (share price up 41% YTD), and with the realisation of full valuations only after the demerger is completed in mid-2013, we think that the upside to MPHB's share price would be capped for now. We downgrade the stock to a HOLD.
Source: Maybank Research - 16 August 2012
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