Gas Malaysia: Maintain Hold - 2Q Results In Line; Declares 5sen DPS

2Q Results In Line; Declares 5sen DPS  Shariah-compliant

• Reiterate HOLD; TP unchanged at MYR2.76. Results are tracking our expectations, with a single-tier interim DPS of 5sen declared for 2Q12.
• We are keeping our forecasts unchanged, and expect a stronger 2H12 performance driven by higher sales of natural gas. We maintain our HOLD call, with 5% upside to our DCF-based TP.

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Source: Maybank Research - 8 August 2012