Clean, restructure, merge? Perdana's proposal to sell its entire stake
in Petra Energy (PE) is widely expected but it would require a
reasonable price for it to exit. The deal would be instrumental to
cleaning up its financials and operations, which would subsequently
attract potential suitors for a leaner, more focused Perdana. Until
then, Perdana remains a Hold, with a MYR0.83 target price (0.8x PBV).
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Source: Maybank Research - 27 April 2012
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