Bursa Malaysia Stock Watch
Petronas Chemicals Group: Maintain Buy - 2Q12: Beset by maintenance shutdowns?
kltrader
Publish date: Wed, 22 Aug 2012, 09:54 AM
kltrader
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- Maintain BUY. PCHEM is expected to release its 2Q12 results by the end of August. 2Q12 is expected to be bogged down by major scheduled maintenance shutdowns which will negatively impact on product volumes.
- Product prices have also declined in the period due to the global commodity sell off in May-Jun 2012.While there is downside bias to our FY12 forecast, we continue to like PCHEM.
- Our target price of MYR7.50 is based on 12x 2013 PER, the industry's historical mean.
Source: Maybank Research - 22 August 2012
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kong73
bias reporting..pick up if it falls below 6.00..dividend will not be high and cash of RM9.8 billion is earmark to fund RAPID JV ventures and maintainence procurement of spare parts...2013 will also have major shutdown in 2nd quarter..
2012-08-22 10:56