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NewsRHB Research maintains Buy on Cahya Mata Sarawak, raises fair value
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RHB Research maintains Buy on Cahya Mata Sarawak, raises fair value
by Cals Wed 19 Mar 2014, 08:25
| RHB Research maintains Buy on Cahya Mata Sarawak, raises fair value |
| Business & Markets 2014 |
| Written by theedgemalaysia.com |
| Wednesday, 19 March 2014 08:16 |
KUALA LUMPUR (March 19): RHB Research has maintained its Buy rating on Cahya Mata Sarawak Bhd (CMS) with a higher fair value of RM10.37 (from RM9.22) and said CMS, the best proxy to the Sarawak Corridor of Renewable Energy (SCORE), attracted keen institutional interest during the research house’s US non-deal roadshow (NDR).
In a note Wednesday, RHB Research said investors see upside for its OM Materials (S) Pte Ltd (OMS) associate and phosphate project under MPA due to attractive power prices, while growth at its other units will be SCORE-driven.
“Reiterate Buy, with our SOP-based fair value revised higher to RM10.37 (from RM9.22),” it said.
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