Affin Hwang Capital Research Highlights
Muhibbah Engineering - Scarcity value overlooked
Muhibbah Engineering; Buy;
Price Target: RM2.15; MUHI MK
Scarcity premium as niche O&G contractor. Under-appreciated concession business – Myanmar airport – on the cards. Cheapest proxy to O&G and construction. Initiate coverage with Buy at RM2.15 TP.
Source: HwangDBS Research - 27 Mar 2013
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