Friday, August 17, 2012

KNM Group: Maintain Hold - Recovering, albeit gradually

  • Reiterate Hold, TP at MYR0.88 (8x 2013 EPS). Results are slowly turning around, on improving QoQ pretax and margin trend. While this is positive, sentiment is still weak due to legacy issues. Executing the Peterborough renewable energy project is a major catalyst.
  • Pending further clarity on this project, our forecasts and call remain unchanged.
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Source: Maybank Research - 17 August 2012

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