Affin Hwang Capital Research Highlights
HwangDBS Research Highlights - 20 Mar 2014
Malaysia Utilities
Focus on resilience and growth
Sustainable growth in energy demand supported by ETP projects and recovering exports. Yield plays may underperform due to QE tapering; focus on stocks with visible growth catalysts. Petronas Gas and TNB offer multi-year rerating catalysts arising from sector reform and rising power demand.
Source: HwangDBS Research - 20 Mar 2014
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