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NewsCIMB Research maintains Gas Malaysia target price at RM2.84 (5209)
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CIMB Research maintains Gas Malaysia target price at RM2.84 (5209)
by hlk Tue 10 Jul 2012, 14:24
KUALA LUMPUR: CIMB Equities Research is maintaining its target price of RM2.84 for Gas Malaysia with its Outperform recommendation.
It said on Tuesday Gas Malaysia is confident of securing 100% of its new natural gas supply (40 mmscfd) by end-2012.
“Pre-gas
service agreements (GSA) for two-thirds of this amount have been signed
and the new customers are comfortable paying market prices for natural
gas,” it said.
CIMB Research described this is a strong signal
that despite a two-fold jump in selling prices, pent-up demand remains
strong and the economics is still favourable for industrial activity in
Malaysia.
“Gas Malaysia remains an Outperform with an unchanged
DDM target price (6% discount rate and 2% TGR). There are no changes to
our earnings forecasts,” said the research house.
It said on Tuesday Gas Malaysia is confident of securing 100% of its new natural gas supply (40 mmscfd) by end-2012.
“Pre-gas
service agreements (GSA) for two-thirds of this amount have been signed
and the new customers are comfortable paying market prices for natural
gas,” it said.
CIMB Research described this is a strong signal
that despite a two-fold jump in selling prices, pent-up demand remains
strong and the economics is still favourable for industrial activity in
Malaysia.
“Gas Malaysia remains an Outperform with an unchanged
DDM target price (6% discount rate and 2% TGR). There are no changes to
our earnings forecasts,” said the research house.
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