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RHB Research downgrades Aeon Credit to Neutral, lowers fair value to RM18

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RHB Research downgrades Aeon Credit to Neutral, lowers fair value to RM18 Empty RHB Research downgrades Aeon Credit to Neutral, lowers fair value to RM18

Post by Cals Sun 21 Sep 2014, 18:48

RHB Research downgrades Aeon Credit to Neutral, lowers fair value to RM18
Business & Markets 2014
Written by theedgemalaysia.com   
Friday, 19 September 2014 09:54

KUALA LUMPUR (Sept 19): RHB Research has downgraded Aeon Credit Services (M) Bhd to Neutral (from Buy) at RM16.48 with a lower fair value of RM18 (from RM18.70) to  reflect asset quality risks.
In a note Friday, the research house said the company’s 2QFY15 results met house and consensus expectations but asset quality deteriorated, with the NPL ratio rising to 2.65% from 2.18% at end-1QFY15.
“While management said the rise was seasonal, we believe there may be lingering concerns,” it said.
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