Affin Hwang Capital Research Highlights

HwangDBS Research Highlights - 24 Mar 2014

kltrader
Publish date: Mon, 24 Mar 2014, 09:42 AM
kltrader
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This blog publishes research highlights from Affin Hwang Capital Research.

MISC; Buy; RM7.01
Price Target: RM7.60; MISC MK
Positive disposal of non-core asset

Sells non-core logistics operations for RM250m cash; valuation at 1x book is fair. Disposal is positive; focus on core energy & petroleumrelated shipping. Other non-core assets that can be sold include stakes in NCB Holdings and Bintulu Port . BUY with RM7.60 TP. Stock remains undervalued with its resilient cashflows, solid oil & gas assets, and significantly stronger balance sheet.

Source: HwangDBS Research - 24 Mar 2014

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