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RHB Research maintains Buy on Cahya Mata S’wak, raises fair value

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RHB Research maintains Buy on Cahya Mata S’wak, raises fair value Empty RHB Research maintains Buy on Cahya Mata S’wak, raises fair value

Post by Cals Mon 20 Jan 2014, 18:56

RHB Research maintains Buy on Cahya Mata S’wak, raises fair value
Business & Markets 2014
Written by theedgemalaysia.com   
Monday, 20 January 2014 08:57

KUALA LUMPUR (Jan 20): RHB Retail Research has maintained its Buy rating on Cahya Mata Sarawak Bhd (CMS) at RM7 with a higher fair value (FV) of RM9.15 (from RM8.57) and said it welcomed CMS’ decision to raise its cement selling prices by 5-9% effective from 17 Feb.

In a note Monday, the research house said the move was timely as it would partly cover escalating costs and lift the group’s FY14/15 earnings by 7-8%.

“Higher earnings may also provide the funding for the capex required to meet Sarawak’s growing demand for cement.

“Reiterate Buy, with our SOP based-FV revised higher to RM9.15 (from RM8.57),” it said.
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