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RHB Research maintains Buy on Protasco, raises fair value
by Cals Thu 10 Apr 2014, 01:12
| RHB Research maintains Buy on Protasco, raises fair value |
| Business & Markets 2014 |
| Written by theedgemalaysia.com |
| Wednesday, 09 April 2014 07:57 |
KUALA LUMPUR (April 9): RHB Research has maintained its Buy rating on Protasco Holdings Bhd with a higher fair value of RM2.18 (from RM1.80) after ascribing mid-cycle valuations (from low-cycle valuations) to the De Centrum property project.
In a note Wednesday, the research house said Protasco was good small-cap proxy to public infrastructure spending (road maintenance and public housing).
“We also like Protasco for its RM10 billion De Centrum development in Bangi.
“Dividend yield is attractive at 5-6%,” it said.
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