Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


MIDF Research upgrades MSM to Trading Buy, raises target price

Bursa Community :: Community News

Go down

MIDF Research upgrades MSM to Trading Buy, raises target price Empty MIDF Research upgrades MSM to Trading Buy, raises target price

Post by Cals Fri 09 May 2014, 20:14

MIDF Research upgrades MSM to Trading Buy, raises target price
Business & Markets 2014
Written by theedgemalaysia.com   
Friday, 09 May 2014 09:56

KUALA LUMPUR (May 9): MIDF Research has upgraded MSM Malaysia Holdings Bhd to a Trading Buy (from Neutral) at RM4.88 with a higher target price of RM6.47 (from RM5.28) after MSM announced that it has signed a non-binding Memorandum of Understanding (MOU) with Al-Khaleej International Ltd (AKI) with the objective of collaborating with each other to establish a joint venture company (JV Company).

In a note Friday, MIDF Research said the Dubai based AKI is part of Al-Ghurair conglomerate which also includes the world’s largest stand-alone sugar refinery Al-Khaleej Sugar LLC.

It said the JV Company would undertake the construction of a new state-of-the-art sugar refinery complete with logistic complex and vessel terminal in Tanjung Pelepas Johor with a joint investment cost of US$250 million to US$270 million.

It said MSM will hold 51% equity stake in the JV company.

“Upon the expected completion in 2016, it will boost MSM’s current production capacity of 1.25m metric tonnes (MT) by 160% to 3.25m MT per annum.

“The Group is still on the lookout for another JV & M&A deal this year.

“Upgrade to Trading Buy with a target price of RM6.47 per share based on the positive newsflow,” it said.
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum