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HwangDBS reiterates 'buy' call on Petgas
by hlk Mon 15 Aug 2011, 17:46
KUALA LUMPUR: HwangDBS Vickers Research has reiterated
its 'buy' call on Petronas Gas Bhd (Petgas) with a target price of RM15.50.
In a note today, HwangDBS Vickers said the company's regas plant in Melaka was on track to commence in July 2012.
"The plant is expected to enhance Petgas' financial years 2012 and 2013 net earnings by 10 per cent and 17 per cent respectively," it said.
It said the growing gas demand would also augured well for the development of the second regas plant in Johor to support the development of the petrochemical industry under the Refinery and Petrochemical Integrated Development project.
"Petgas is the front-runner for the Johor plant given its involvement in the Melaka regas plant, and the need for Johor plant to be connected to the Peninsular Gas Utilisation network," it said. - Bernama
its 'buy' call on Petronas Gas Bhd (Petgas) with a target price of RM15.50.
In a note today, HwangDBS Vickers said the company's regas plant in Melaka was on track to commence in July 2012.
"The plant is expected to enhance Petgas' financial years 2012 and 2013 net earnings by 10 per cent and 17 per cent respectively," it said.
It said the growing gas demand would also augured well for the development of the second regas plant in Johor to support the development of the petrochemical industry under the Refinery and Petrochemical Integrated Development project.
"Petgas is the front-runner for the Johor plant given its involvement in the Melaka regas plant, and the need for Johor plant to be connected to the Peninsular Gas Utilisation network," it said. - Bernama
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