IHH has denied that it is potentially acquiring an 11.5% associate stake in Bangkok  Dusit  Medical  Services  Pcl  (BDMS)  as  reported  in  The  Star yesterday. In a filing to Bursa, IHH said it has “no intention to acquire the stake at this juncture”. (Source: Various Sources)

Comment: We are maintaining our BUY rating with TP of RM 5.50 as we have  not  taken  into  account  the  speculated  acquisition  into  our  earnings estimates.  We  continue  to  like  IHH  as  a  long  term  play  with  strong fundamentals and well managed expansion plans.

Source: Affin Hwang Capital Research - 6 Jan 2015