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RHB Research maintains Buy on Cahya Mata S’wak, raises fair value to RM5

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RHB Research maintains Buy on Cahya Mata S’wak, raises fair value to RM5 Empty RHB Research maintains Buy on Cahya Mata S’wak, raises fair value to RM5

Post by Cals Fri 03 Oct 2014, 18:02

RHB Research maintains Buy on Cahya Mata S’wak, raises fair value to RM5
Business & Markets 2014
Written by theedgemalaysia.com   
Friday, 03 October 2014 09:40

KUALA LUMPUR (Oct 3): RHB Research has maintained its Buy rating on Cahya Mata Sarawak Bhd (CMSB) at RM4.29 with a higher fair value of RM5 (from RM4.85) and said the company’s 20%-owned OM Materials Sarawak (OMS) was now at progressive commissioning stage and its phosphate project under Malaysian Phosphate Additives (MPA) was making good progress – both are set to enjoy attractive power tariffs at SCORE.
In a note Friday, RHB Research said it expects CMSB’s property development in Samalaju to reach a larger scale and be completed earlier than expected.
“The group’s huge cash pile also allows it to take on projects with attractive returns in SCORE or others, which may boost its future earnings.
“Maintain Buy with our SOP-based trget price raised to RM5.00 (from RM4.85), as we lifted the DCF value of its OMS project,” it said.
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