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Aviation MAHB to be major beneficiary

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Aviation MAHB to be major beneficiary Empty Aviation MAHB to be major beneficiary

Post by Cals Sat 11 Jan 2014, 01:29

Aviation MAHB to be major beneficiary
Business & Markets 2014
Written by theedgemalaysia.com   
Friday, 10 January 2014 09:04

KUALA LUMPUR (Jan 10): Hong Leong IB Research has maintained its Neutral rating on the Aviation sector and said Malaysia Airport Holdings Bhd would be the major beneficiary.

In a note Friday, the research house said Visit Malaysia Year (VMY) 2014 would boost tourist arrivals in 2014, but local demands will be dampened by increasing cost of living and negative sentiments. Furthermore, tourists may prefer to travel with their own country airlines.

“Expect continued yield pressures from the strong competitions among the domestic airlines (MAS, AirAsia, AirAsia X and Malindo Air) to improve load factors.

"High jet fuel price and RM/US$ depreciation are expected to affect airlines’ profitability.

“MAHB will benefit from increasing passenger movements, and shielded from competitions, high jet fuel price and RM/US$ depreciation. Commencement of KLIA2 will further boost MAHB’s earnings,” it said.

HLIB said MAHB was its top pick with a target price of RM9.75.
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