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NewsMIDF Research downgrades MRCB to Neutral, target price RM1.64
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MIDF Research downgrades MRCB to Neutral, target price RM1.64
by Cals Tue 27 Aug 2013, 11:00
MIDF Research downgrades MRCB to Neutral, target price RM1.64
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 27 August 2013 09:41
KUALA LUMPUR (Aug 27): MIDF Research has downgraded MALAYSIAN RESOURCES CORP []oration Bhd (MRCB) to a Neutral at RM1.49 with a revised target price of RM1.64 and said MRCB’s 1H13 results did not keep pace with expectation as its net profit and turnover made up only 9.5% and 24.2% of MIDF Research’s full year forecast.
In a note Tuesday, the research house said this was due to lower contribution from MRCB’s CONSTRUCTION [] and infrastructure/environmental division.
“We revise our forecast FY13 revenue to RM833 million due to poor progress billing and construction works as well as losses from the infrastructure division.
“We downgrade our recommendation to Neutral with a revised target price of RM1.64 per share,” it said.
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 27 August 2013 09:41
KUALA LUMPUR (Aug 27): MIDF Research has downgraded MALAYSIAN RESOURCES CORP []oration Bhd (MRCB) to a Neutral at RM1.49 with a revised target price of RM1.64 and said MRCB’s 1H13 results did not keep pace with expectation as its net profit and turnover made up only 9.5% and 24.2% of MIDF Research’s full year forecast.
In a note Tuesday, the research house said this was due to lower contribution from MRCB’s CONSTRUCTION [] and infrastructure/environmental division.
“We revise our forecast FY13 revenue to RM833 million due to poor progress billing and construction works as well as losses from the infrastructure division.
“We downgrade our recommendation to Neutral with a revised target price of RM1.64 per share,” it said.
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