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Petronas Dagangan still a "fully valued"
by hlk Mon 04 Jun 2012, 13:04
HwangDBS Vickers Research Sdn Bhd has maintained a "fully valued" call
on Petronas Dagangan Bhd following the signing of agreements with
Petroliam Nasional Bhd (Petronas) to acquire the downstream businesses,
valued at RM197 million.
"Of the six companies to be acquired,
the operations in the Philippines is the most profitable, while
Thailand, Malaysia and Vietnam incurred losses last year," HwangDBS
said in a research note today.
It said the initial impact on the
financial year 2013 earnings would be just 0.5 per cent, based on
nine-month earnings contributions.
"However, the acquisitions
may set the stage for Petronas to inject its other overseas businesses,
like the petrol kiosk operations, into Petronas Dagangan in future," it
added. -- BERNAMA
on Petronas Dagangan Bhd following the signing of agreements with
Petroliam Nasional Bhd (Petronas) to acquire the downstream businesses,
valued at RM197 million.
"Of the six companies to be acquired,
the operations in the Philippines is the most profitable, while
Thailand, Malaysia and Vietnam incurred losses last year," HwangDBS
said in a research note today.
It said the initial impact on the
financial year 2013 earnings would be just 0.5 per cent, based on
nine-month earnings contributions.
"However, the acquisitions
may set the stage for Petronas to inject its other overseas businesses,
like the petrol kiosk operations, into Petronas Dagangan in future," it
added. -- BERNAMA
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