Affin Hwang Capital Research Highlights
Malaysia Airports - Robust passenger growth
Malaysia Airports; Hold
Price Target: RM6.05; MAHB MK
Healthy 1Q13 operating net profit growth of 11% y-o-y driven by acceleration in passenger growth – in line. Robust overall passenger growth of 8.7% in 1Q13; MAHB projects full year growth of 7.1%. klia2 behind schedule; we do not expect a slight delay to result in material shift in valuations. Maintain HOLD with RM6.05 SOP-based TP.
Source: HwangDBS Research - 29 Apr 2013
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