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AmResearch retains 'neutral' call on Gamuda
by Cals Thu 12 Jun 2014, 03:06
| AmResearch retains 'neutral' call on Gamuda |
| Business & Markets 2014 |
| Written by Bernama |
| Wednesday, 11 June 2014 20:16 KUALA LUMPUR (June 11): AmResearch has maintained its "neutral" call on Gamuda Bhd, with a fair value of RM5.25 per share. The research house said its fair value for Gamuda reflects a 10 per cent discount to Syarikat Pengeluar Air Sungai Selangor Sdn Bhd's (SPLASH) net book value of RM2.5 billion, as at end-December 2013. Meanwhile, for Puncak Niaga, the research firm maintained its "hold" call with a fair value of RM3.40 per share, as the valuation is based on the current offer. AmResearch in its statement, said a fair valuation for SPLASH is still key to push the Selangor water impasse to a final resolution. With the Federal government putting the invocation of Section 114 of the Water Services Industry Act 2006 (WASIA) on hold, the research firm believed that a commercial solution is still needed to resolve the saga. "With SPLASH seemingly being the last to agree to the takeover of water assets, the privatisation model conducted in Johor, could be a form of guidance," it said. |
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