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RHB Research keeps Neutral call on YTL Power
by hlk Fri 21 Feb 2014, 11:15
KUALA LUMPUR: RHB Research is maintaining its Neutral call on YTL Poower with its sum-of-parts based fair value tweaked marginally to RM1.86 from RM1.90.
It said on Friday YTL Power’s first half (H1 ended Dec 31, 2013) core earnings of RM570.3mil were largely in line with expectations.
“While there could be some selling pressure should the long-awaited Project 3B be awarded to its competitors, we believe that all is not lost.
“We expect the group to participate in the tender for Project 4A and 4B – comprising 1,000MW each – to be called by the Energy Commission later this year,” it said.
It said on Friday YTL Power’s first half (H1 ended Dec 31, 2013) core earnings of RM570.3mil were largely in line with expectations.
“While there could be some selling pressure should the long-awaited Project 3B be awarded to its competitors, we believe that all is not lost.
“We expect the group to participate in the tender for Project 4A and 4B – comprising 1,000MW each – to be called by the Energy Commission later this year,” it said.
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